For sure, things are grim at the moment, for both EMC and the industry as a whole. Wall Street's declining confidence in EMC follows the revelation that... well, the market for storage really, really blows right now. EMC last week said it would have a larger-than-expected loss and that it plans to cut another 1,350 jobs (see EMC Cuts Headcount).
So, has the "storage bubble" finally deflated, and is EMC getting its just desserts? Is this company dying the death of a thousand cuts?
The storage bears (or chicken littles?) say this: The era of EMC charging customers millions of dollars for high-end RAID storage is ovah, baby. IT spending is in the toilet. Disk is a commodity. See ya, EMC!
Well. The spanking EMC is receiving seems very shortsighted, indeed. I would argue that EMC's best days may yet lie in the years ahead. Why? Because the universe is still expanding.
Let me explain. Right now, budgets for storage and every other major capital expense, for that matter are frozen. But corporations generate more data every single day. Plus, a surprising amount of data still isn't stored electronically. At some point, businesses and government agencies will be forced to buy more disk space; it's just that for the time being they're mostly getting by on the storage they have already installed.
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