"--While we believe EMC came into the March quarter with a healthy backlog, and our previous checks that the IT storage spending outlook appeared healthy for (the first quarter), IT managers seemed to come into the new year reluctant to spend,'' Vaughan wrote.
ALSO NEW, REPORT TODAY THAT (IT) SPENDING IS COMING OFF THE BOTTOM. This means that the intermediate period (60 to 120 days) is more predictable than the short period. If you are willing to look that far ahead, the short term channel, 10.6 to 11.0, is indicating a strong buy.