"It's a very difficult business, one that completely opposes Dell's business model, " says Steven Salopek, a technology analyst with Bank One Investment Advisors, which held 8.5 million shares of Dell as of the end of last year.

FORBES: Pulled in a new direction

Dell's no-frills business model has long allowed it to crank out PCs more cheaply than anyone.

FORBES: Magazine Article

Compaq's attempts to embrace Dell's direct-from-the-web model have appeared half-hearted.

ECONOMIST: Compaq spoils the party | The