Michael Dell is his company’s largest stockholder

Some investors were not valuing the company highly enough quoted Michael Dell founder of the computer giant Dell Inc. so he bought 100m shares in his company making him the company’s largest shareholder. He bought the shares on Friday and filed with the Securities and Exchange Commission , The shares were priced at $13.57 ,the purchase of 7.37 million shares , gives him 263 million shares valued at $3.5 bn. This year 7% of Dell shares have fallen with the shares in the company on Monday closing down 2.1.%. Third quarter net income rose by 144% rise to $822m due to falling costs and a post recession wave of IT upgrades, on  the latest results , released a month ago. Corporate orders had revenues in the three months to September rise 19 % from a year ago .Household  spending  on laptops and PC’s  remains  weak and  the computer manufacture reported only a 4% rise in takings from consumer clients.

Michael Dell the company’s founder and chief founder said,”Dell is growing in the right areas, and I’m very excited about our momentum and the revenues have also been helped partly by its refusal to be drawn into price wars, claiming to have turned down some contracts that would have been insufficiently profitable