Dell Computer has just unveiled

Dell Computer has just unveiled financial results that in normal circumstances would have been considered a disaster, but in the wake of 9-11 and the recession, were considered impressive. In Q4, it increased its market share, and even grew its operating profits on reduced turnover. But look at the annual figures, and almost every signal is negative. For the past five years or so, Dell's growth has been about the same as Apple's annual turnover. To maintain this record, Dell's sales should have grown to $37.3 billion (ie $31.9+$5.4 billion), whereas in fact they dipped by 2.3% to $31.2 billion. Until now, Dell's growth has been spectacular. In a decade, sales have zoomed from less than $1 billion to more than $30 billion, which is hugely impressive for a manufacturing company. But have the glory days gone for good? Come back next year....