Morningstar

Morningstar, Inc.

Equity Bottom-Up

VMware, a pioneer of virtual machines, dominates the maturing data center server virtualization market. Private and public clouds are becoming ubiquitous among enterprise networks as on-premises server virtualization apexes. After shedding its cloud provider business in 2017, VMware created a robust cloud provider partnership portfolio, which we think helps the firm handle the changing market landscape. VMware's next wave of growth should stem from software solutions for hybrid clouds…

Narrow-moat VMware's year-over-year revenue growth of 13% slightly topped our expectation while operating margin came in as forecast. VMware posted strong growth across the portfolio, with license revenue growing 12% year over year while sales from services increased by 13% annually. Momentum in the hybrid cloud subscriptions and SaaS portfolio accelerated with 35% annual growth, and this segment now represents more than 12% of total revenue. We remain impressed with VMware's shift from an…

We are maintaining our fair value estimates for leading communication service providers, such as Nokia and Ericsson, despite the addition of Huawei to the U.S. Entity List, effectively banning U.S. firms from supplying into Huawei, the dominant provider of CSP equipment, software, and services. The Chinese firm is also one of the largest sellers of switches, routers, and wireless technology for enterprises, campuses, and data centers as well as an enterprise security vendor. We are assuming that…

United States

VMware, Inc. provides virtualization solutions from the desktop to the data center. The Company's solution products addresses a range of IT problems, which includes cost and operational inefficiencies, business continuity, software lifecycle management and desktop management.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00