Dell's Big-Ticket Purchases Done for Now
Updated from 11:40 a.m. EDT
ROUND ROCK, Texas -- As it seeks to re-ignite growth and expand its presence around the world,
Dell
(DELL) - Get Report
doesn't expect to make any big-ticket acquisitions.
Michael Dell, the PC maker's founder and chief executive, said the company continued to look at ways to bolster its offerings through external acquisitions, but said a big deal was probably not in the cards anytime soon.
"I wouldn't hold your breath for a big acquisition," Dell told analysts and investors Thursday at the company's first full-day financial briefing in three years.
Dell has historically shied away from acquisitions. But the company made a string of deals in 2007, including the $1.4 billion purchase of EqualLogic, as it moved to regain its competitive edge in the face of tough competition from
Hewlett-Packard
(HPQ) - Get Report
and other rivals.
Dell executives said the company has taken important steps in closing gaps in its product line over the past year, while at the same time focusing on fewer, more significant business opportunities and reining in its operating expenses.
On Monday, Dell said it planned to shutter a manufacturing facility in Austin, Texas, and reaffirmed its goal of reducing its headcount by 8,800 employees.
Know What You Own
: DELL operates in the personal computers industry, and some of the other stocks in its field include
Apple
(AAPL) - Get Report
,
Microsoft
(MSFT) - Get Report
and
IBM
(IBM) - Get Report
. These stocks were recently trading at $150.83, +2.26%, $29.12, -0.14%, $115.20 and +0.34% respectively. For more on the value of knowing what you own, visit TheStreet.com's
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