The Sun Also Rises (SUNW)
Sun Microsystems has been down for a long, long time. After several restructurings and the launching of a new SPARC chipset, and its apparently successful purchase of StorageTek, Sun is on a bit of a roll. Sun was the only large server company to gain share in the last quarter according to IDC .
In the June quarter, Sun turned in its best revenue quarter in several years with revenue of over $3.8 billion.
The market quietly saw Sun’s recovery coming. Over the last year, Sun’s stock has outpaced that of its three major rivals: Dell, Hewlett-Packard, and IBM. Sun’s stock is now up almost 30% from a year ago. At $5.16, it trades near its 52-week high of $5.40. The stock is nearing a level where is last traded in late 2004. With another solid quarter, it could top that.
Douglas A. McIntyre can be reached at douglasamcintyre@gmail.com. He does not own securities in companies that he writes about.
In the June quarter, Sun turned in its best revenue quarter in several years with revenue of over $3.8 billion.
The market quietly saw Sun’s recovery coming. Over the last year, Sun’s stock has outpaced that of its three major rivals: Dell, Hewlett-Packard, and IBM. Sun’s stock is now up almost 30% from a year ago. At $5.16, it trades near its 52-week high of $5.40. The stock is nearing a level where is last traded in late 2004. With another solid quarter, it could top that.
Douglas A. McIntyre can be reached at douglasamcintyre@gmail.com. He does not own securities in companies that he writes about.
posted by douglas mcintyre at 4:51 AM
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