EMC, VMWare Resist Market Downdraft
On the heels of the conclusion of the recent successful EMC World 2011 conference held in Las Vegas this past week, and all of the innovations and business and technology alliances that were revealed during the course of the conference, the stock prices of both EMC (ticker EMC) and VMWare (VMW) are showing remarkable resistance to the current downdraft being experienced by the overall market and the broad market indexes with the Dow Jones Industrial Average down over 100 points.
As an indication of investors’ approval and support of the news coming out of the conference, the stock prices of both companies are actually both up on a day when the indexes are selling off. VMWare currently trades at $95.00, slightly under its 52 week high and treading water while the overall markets are in decline. EMC, which owns an approximate 80% stake of VMWare, currently trades at $27.85, up slightly from yesterday’s close and approximately only 4% off its 52 week high.
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