"The content that was once printed for distribution or portability is now simply being distributed or shared electronically," writes Deutsche's Chris Whitmore, summing up the long-term threat the printing industry is staring at. Whitmore estimates top vendors, including H-P (HPQ), Lexmark (LXK), and Xerox (XRX), have seen their sales fall at a 6% annual clip over the last 10 quarters. The depressed valuations assigned to the group show Whitmore is far from alone in being this pessimistic.
"The content that was once printed for distribution or portability is now simply being...
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