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What Symantec's disappointing sales forecast means
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Symantec's expected revenue shortfall for the second quarter could be significant, with the forecast made this morning by the maker of security and storage software coming in as much as 5% below what analysts expected, enough, certainly, to help drive down the stock market.
The big question, of course, is whether the likely shortfall is specific to Symantec or indicative of a wider trend. I see that McAfee's been taking share.
I'm looking into this as we speak and will let you know what I find out. But if any of you have any insight here, please let me know.
Comments (1)
1. 05-07-2009 12:59
This maybe pure conjecture on my part, however, when Symantec has open holes in their site to allow hackers access to visitor's computers there is a problem with the entire product line.
According to the Register:
\"The XSS, or cross-site scripting, bugs allow attackers to steal the web cookies Symantec sets on visitors\' hard drives. Such cookies are frequently used to prove a visitor has already entered a valid password, so the ability to lift the file could be a non-trivial lapse of Symantec's security."
When an anti-virus and web security company can't secure its own website, the revenues are going to keep dropping.
The company did claim to have fixed security bugs on the site, however, once negative press gets out there it's going to be difficult for Symantec to recover in the short term.
I look forward to your thoughts on this perspective.
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