Dell buys more of Dell
By Barry Collins
Posted on 3 Jul 2008 at 09:23
Michael Dell has put some much needed confidence into the tech sector by buying a record number of his own company's shares.
The Dell CEO bought $100 million worth of shares in the company that bears his name, sending Dell's share price up just six weeks after the company's stock hit a six-year low.
Dell, who returned as CEO last January after a three-year break, was already the largest shareholder in the company, with his latest acquisition boosting his holding by about 2% to 12.3%.
The move will boost confidence in the turnaround that Dell has been implementing at the company since the middle of last year.
The PC maker, which had carved out something of an unwanted reputation for boring black boxes, has revamped its product lines with a greater focus on aesthetics.
Only last week, the company revealed its new Studio range of laptops, which come in a range of seven colours and boast "Permanent Pictaflex" artwork by artist Mike Ming on the wrist rests.
Dell also won widespread acclaim, and a PC Pro Recommended Award for its XPS One all-in-one desktop earlier this year.
The company's new strategy has also won approval from market watchers. "All vendors are trying to make their PCs more appealing," Ranjit Atwal, principal analyst at Gartner told PC Pro earlier this week. "Dell is obviously on the right track."
From around the web
advertisement
- Chrome's shine getting lost in translation
- BytePac: the cardboard hard disk enclosure
- How tech loosens our grip on reality
- Hokum watch: Safer Internet Day
- Why I'm deleting Adobe from my PC
- Prepare to be patronised: it's Safer Internet Day
- Dear Sony, Samsung and every other tech company in the world: stop trying to be Apple
- Will Apple's Final Cut Pro X update placate the pros?
- Smartr Contacts for iPhone review
- Switching to Office 365's Outlook Web App
- How to make Google AdWords work for your business
- The curse of sloppily written software
- Paying for your crimes with Bitcoin
- Behind the scenes: tech support for Formula 1
- The security risk of fat fingers
- Why Windows Phone 7 isn't quite ready for business
- When will Microsoft stop fiddling with Windows 8?
- Flash down the pan?
- Metro Style apps vs desktop applications
- Coping with Facebook changes
advertisement
