EMC added 69 cents, or 3.6%, to $19.73 on the New York Stock Exchange after Bear Stearns and Citigroup lifted their ratings. Both brokers pointed to EMC's ownership stake in spinoff VMware, which has a lead in the burgeoning virtualization market and seen its shares surge since its IPO a month ago.
"From a larger perspective, we see EMC as more than just a storage play: we also see that EMC management has been adept at finding the 'next big thing' in IT spending," Bear Stearns' Andrew Neff said in a note, "and growing those nascent businesses, enabling overall EMC to continue to grow."
At the moment, in terms of mkt cap:
Apparently some investors don't think the latter is the same type of money as the former -- otherwise EMC, as majority owner of VMWare, should have seen a much bigger mkt cap pop over the last month.