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MarketScreener Homepage  >  Equities  >  Nyse  >  Dell Technologies Inc    DELL

DELL TECHNOLOGIES INC

(DELL)
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Dell, HP, Microsoft, Intel oppose proposed tariffs on laptops, tablets

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06/19/2019 | 06:20pm EDT
FILE PHOTO: A laptop displays the Intel logo at the CES in Las Vegas

(Reuters) - Dell Technologies Inc, HP Inc, Microsoft Corp and Intel Corp on Wednesday opposed U.S. President Donald Trump's proposal to include laptop computers and tablets among the Chinese goods targeted for tariffs.

Dell, HP and Microsoft, which together account for 52% of the notebooks and detachable tablets sold in the United States, said the proposed tariffs would increase the cost of laptops in the country.

The move would hurt consumers and the industry, and would not address the Chinese trade practices that the Trump administration's office of the U.S. Trade Representative (USTR) seeks to remedy, the four companies said in a joint statement posted online.

Implementing the proposed tariffs would increase U.S. prices for laptops and tablets by at least 19%, or around $120 for the average retail price of a laptop, the companies said, citing a recent study by the Consumer Technology Association.

"A price increase of that magnitude may even put laptop devices entirely out of reach for our most cost-conscious consumers," the companies said, noting that the price hikes would occur during peak holiday and back-to-school seasons.

In a separate statement, Microsoft, along with video game makers Nintendo of America Inc and Sony Interactive Entertainment LLC said the tariffs on video game consoles could stifle innovation, hurt consumers and put thousands of jobs at risk.

The USTR kicked off seven days of testimony from U.S. retailers, manufacturers and other businesses about Trump's plan to hit another $300 billion worth of Chinese goods with tariffs.

The hearings will end on June 25 and the tariffs will not come into effect until after July 2, when a seven-day final rebuttal comment period ends.

(Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Shounak Dasgupta)

Stocks mentioned in the article
ChangeLast1st jan.
DELL TECHNOLOGIES INC 0.87% 56.5 Delayed Quote.14.61%
HP INC -0.61% 21.18 Delayed Quote.4.35%
INTEL CORPORATION 0.45% 49.39 Delayed Quote.6.80%
MICROSOFT CORPORATION -0.59% 136.27 Delayed Quote.36.75%
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Financials (USD)
Sales 2020 93 868 M
EBIT 2020 9 492 M
Net income 2020 483 M
Debt 2020 38 989 M
Yield 2020 -
P/E ratio 2020 92,6x
P/E ratio 2021 55,6x
EV / Sales2020 0,88x
EV / Sales2021 0,78x
Capitalization 43 173 M
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 71,93  $
Last Close Price 56,01  $
Spread / Highest target 60,7%
Spread / Average Target 28,4%
Spread / Lowest Target 7,12%
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Managers
NameTitle
Michael Saul Dell Chairman & Chief Executive Officer
Marius A. Haas President & Chief Commercial Officer
Jeffrey W. Clarke Vice Chairman-Products & Operations
Thomas W. Sweet Chief Financial Officer & Senior Vice President
Howard D. Elias President-Dell Services, Digital & IT
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