© 2010-2016 HMCC & Constellation Research, Inc. All rights reserved. 1#DELLEMC

Market Move – Dell Technologies (DT) is here

MyPOV: DT has a fighting change for long term relevance. Not clear on what it wants to invest for long term growth. Needs publiccloud business in long run. Few bright product spots today.

Largest technology merger ever – now operating as Dell Technologies

3 Scenarios

• Nothing changes – DT will do well.

• Slow move to public cloud – DT may pull off long term investments

• Fast move to public cloud (3 years) – Hard for DT to remain relevant

Alternative: Continuous Asset Sales, e.g. see start with Documentum