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I hear you clicking away [on a keyboard]. You're probably not using a tablet right now. First, you have a PC, then you got a smartphone, right? So when you got a smartphone, did you get rid of your PC? No. So now you have a smartphone and a PC and then you got a tablet. When you got a tablet, did you get rid of your smartphone or your PC? Now you have a tablet, a smartphone and a PC.
There is no question people are buying tablets. There is no question people are buying smartphones. But they are also buying 440 million PCs this year. By the way, does the channel make any money selling tablets?
Tablets are improving. That is true. I agree with that. I think you're going to see the line between what is a tablet and what is a PC get real blurry, and there should be a real continuum of products. You already see some things today that are first attempts at that.
We are obviously doing much more than PCs. Look at our last quarter results. We had record cash flow from operations of $2.4 billion during Q2 and we ended the quarter with $16.2 billion in cash and investments, also a record. We are strong. We've had $5.2 billion in cash flow from operations during the past 4 quarters. Our operating income was up 52 percent to $1.3 billion and our earnings per share were up 69 percent year over year. During the last four quarters EPS has been $2.07, our highest ever, up 83 percent year over year. We are getting stronger. We are continuing to transform and evolve our business. And we think that the PC is not going away.
What is your message to channel partners?
The message is we love our channel partners. We are committed to our channel partners. We are committed to the PC business and the data center and beyond.
Do you have an on-boarding strategy to bring on HP partners?
We have been on boarding large numbers of partners globally already for the last few years. We are certainly ready to do more with those partners and on-board new ones.
How big an opportunity is this for Dell?
It's a very big and great opportunity for the channel and for Dell. Others in the industry will do whatever they are going to do, which I guess nobody really knows yet, you can ask them about it. The summary is that Dell is now the x86 enterprise partner of choice. If I am in the channel I want to be working with the enterprise x86 partner of choice.
What is your final message to HP partners?
If you are a channel partner that has not joined us already, it's never been an easier decision or a better time for you to sign up with Dell. Let's get you signed up, trained and certified. Our consistent approach has proven itself. Let's get going. Call [Dell Vice President of Global Commercial Channels] Greg Davis or call me. We are ready.