Piper Jaffray’s Andrew Nowinski this morning offers a preview of EMC‘s (EMC) Q3 report, expected on October 18th, before the market opens.
Nowinski, who has an Overweight rating on EMC shares, expects “modest upside” to consensus revenue estimates. He is modeling $5.02 billion in revenue and 37 cents per share in profit, compared to the Street’s average estimate of $4.92 billion and 37 cents. The consensus would be just 2% quarter-to-quarter growth, and EMC has averaged Q3 growth of 5% over the last eight years. Also, the company’s beaten consensus by $90 million, on average, for nine quarters in a row.
Nowinski is upbeat about the company’s flash storage-based server product, “Project Lightning,” which, I suppose, competes in some respects with products from Fusion-IO (FIO):
We believe EMC�s Project Lightning is set for general availability in late Q4. Based on conversations with industry contacts, we believe the company has a number of customers already beta-testing the server-based flash storage solution. The primary difference between this and other PCIe solutions is that this will incorporate EMC�s FAST VP storage tiering software, which we believe could represent a significant advantage for EMC.
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