It has been reported that investors are fretting over the future of Dell CEO Kevin Rollins following last week’s roll call of fiery notebooks and poor financial results. To top it off Fidelity a major player in the tech sector, has dumped shares of Dell out of its portfolio. Even with the stock taking a down turn Michael Dell has every confidence in Mr. Rollins, and he will not be departing Dell just yet.
More worryingly for Dell, the Journal said large institutional investors like Fidelity have dumped shares in the firm. A number of financial institutions have downgraded their assessment of Dell’s shares. Fidelity is a major player in tech shares – it holds 30 million AMD shares, 37 million ATI (tick: ATYT) shares, 84 million Intel (tick: INTC) shares, and 13 million Nvidia (tick: NVDA) shares. Movements by big players such as Fidelity, Oppenheimer Funds and others can really rock the boat.
It will be interesting if the AMD chip offering will pull Dell out of the doldrums.
Source: The Inquirer
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