EMC lowers growth target

Citing an "uncertain U.S. economic climate," data storage giant EMC toned down its sales growth projections for 2001.

EMC (emc) said it still expects to meet its $12 billion revenue target for 2001, but added that it would increase sales 25 percent to 35 percent for the year. In the company's recent fourth-quarter report, CFO Bill Teuber said EMC will continue to increase sales in the mid-30 percent range in 2001.

By introducing a lower range, the company, which makes systems for storing corporate data, sent mixed signals.

"It is unclear whether the company is intending to proactively lower its forecast or introduce a worst-case scenario to provide a floor for the stock," said Merrill Lynch analyst Thomas Kraemer. "Based on our very positive conversations with EMC last night, it would seem that the company is responding to the stock and not changes in the business." Full story. --Tiffany Kary, ZDNet Inter@ctive Investor