Bank Of America Maintains Estimates On EMC

According to Bank of America, EMC EMC estimates are maintained. Bank of America said that its quarterly EMC Value Add Resellers (VAR) survey points to a relatively solid C2Q11, with revenue and EPS slightly ahead of consensus. “We model 2Q11 revenue and EPS of $4.83bn and $0.36 versus Street of $4.73bn and $0.34. We expect EMC to maintain their 2011 guidance for EPS of $1.46 versus our/Street of $1.56/1.49, as opposed to raising it, given some mixed macro data points recently, and despite the revenue tailwinds (share gains, product cycle) and NetApp's recent bullish outlook.” EMC closed yesterday at $26.81.