Forget Voting Machines, Focus On China

Article Excerpt

DIEBOLD INC. $42 (New York symbol DBD; Aggressive Growth Portfolio, Manufacturing & Industry sector; WSSF Rating: Average) has won new contracts to supply and service over 1,500 automated teller machines (ATMs) in China. The company now has 30% of the Chinese ATM market, but there’s still plenty of room to grow. China has just 55 ATMs per million people. Developed countries have 600 to 800 per million people. The stock has stayed in a narrow range recently, mostly due to bad publicity over its electronic voting machines. But this division accounts for less than 10% of Diebold’s total revenues. If problems continue, the company could sell this business. A sale, even at a deeply discounted price, would spur a rise in the stock. Diebold is a buy. buy…

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