VMware (VMW -20.2%) has been hit by 7 downgrades in response to its poor Q1/2013 guidance. VMware's soft transactional (individual license) sales "will raise questions about the appetite for SMB customers to expand their virtualization footprint," says Goldman, which has removed shares from its Conviction Buy list. However, the firm has "yet to pick up on any material changes in the competitive landscape" in this segment. "We'd buy the shares after the smoke clears," says Oppenheimer, viewing guidance as conservative. (also) (transcript)