What was the main reason that caused stock to go down? I know that the Net Income went down for the last quarter but that wasn't the reason. I'm looking for the EXACT REASON. You can be very technical. Trust me, I will understand everything. Thanks
"For the first-quarter, Dell reported that its net
income fell 32.8 percent to $635 million, compared to $945 million a
year earlier. Revenue also declined by 4 percent to $14.42. It was a
miss on the top and bottom and the company even noted the impact of
competitors. On the conference call, chief financial officer Brian T.
Gladden explained, “We’re seeing more consumer IT spending diverted to
alternative mobile computing devices.” In other words, tablets are
eating Dell’s lunch.