Dell Post-Mortem: Sales Going Down, but Hope for Profit Springs Eternal

November 24, 2008 at 12:29 am PT

Dell (DELL) hit a new 52-week low today, $8.72, before closing down 51 cents, or five percent, at $9.30, after last night reporting sales that missed estimates by a billion dollars and calling the global IT demand outlook “challenging.” The stock was downgraded from “Outperform” to “Market Perform” today by Friedman Billings.

But at least a couple of analysts are willing to hold onto a “Buy” on the stock, impressed by the company’s ability to cut costs and boost margins last quarter.

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Tagged with: Barrons, Dell, Friedman Billings, frontpage, stock, Tech Trader Daily, Tiernan Ray

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