EMC boss stands by revenue targets

Mike Ruettgers, CEO of EMC, is confident the data storage giant can hit its 2001 revenue target of $12bn, despite the downturn in the market.

Speaking at a conference in New York earlier in the week, Ruettgers said he could see no trend that would hurt growth prospects in the information storage market, according to US newswire reports. He said: "It's very clear that of the fastest growing sectors we're looking at, IT and storage are at the top of the list." Despite a recent spate of profit warnings across the industry, Ruettgers believes EMC can continue to grow. "There's no single industry that drives the storage demand," he said. Analysts expect the company to bring in between $8bn and $9bn for the year 2000.