Helix Investment Research
Long only, special situations, contrarian, growth

EMC: As Growth Begins To Accelerate, Shares Remain Undervalued

Shares of EMC (EMC) have been battered over the past 12 months, falling over 18% as warnings of economic uncertainty and weak guidance at VMware (NYSE:VMW) created an aura of weakness around EMC. However, the events of the past few months (primarily EMC and VMware's Q4 2012 earnings) should not be seen as representative of EMC's long-term potential, a sentiment highlighted by CEO Joe Tucci at EMC's 2013 analyst day. We believe that EMC's best days are ahead of it, and that below $24, shares of EMC are meaningfully undervalued, and we lay out our bullish thesis below. For the record, unless otherwise noted, financial statistics and management commentary will be sourced from the following sources:

    EMC's Q4...
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