The Dell Deal Is a Steal That May Die – Barrons.com

The Dell Deal Is a Steal That May Die – Barrons.com.
Pretty coherently laid out in this article. The biggest assumption for me is: will $DELL be able to keep generating the $3 billion or so in FCF year after year in a declining PC market with lower and lower market share? Dell seems confident it can do so by betting his money. But I guess he must be thinking: what do I have to lose? Even a 15% annualized return on his capital with more control is probably sweeter to him than the existing status-quo.

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