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See the complete checklist of proper rack server vendorsbottom line:
The IBM vigor methods S922 server is designed from the ground up for records intensive workloads dote databases or analytics. it could aid several key enterprise records-intensive eventualities, including mainstream purposes, main-part HPC workloads and evolving synthetic intelligence (AI) projects.
shoppers in search of essential compute energy may quiet know this key fact: POWER9 solutions are the foundation of the area’s first and third fastest supercomputers, the U.S. department of energy’s apex and Sierra installations.
IBM power servers are inclined to Have a better cost of entry than x86 machines. although, based on a dissect by Quark + Lepton, IBM vigour methods running IBM I software Have 60% lower complete impregnate of possession than home windows/SQL Server or X86 based Oracle systems. IBM’s pitch is that there are limits to what commodity architectures can do.
however, if you are expecting surges renowned and don’t Have play for downtime, licensing expenses, or occasional crashes a better business architecture may well exist required.Product description:
The S922 is a 1 or 2 socket server that presents a wide variety of core configurations and up to four TB of memory. Chip core speeds on the 4-core are 2.8 to three.8GHz, on the 8 core are three.four to 3.9 GHz and on the ten core are 2.9 to three.eight GHz. the lone socket edition offers up to 6 PCIe ( 2 x Gen4 and four x Gen3) slots and the two socket edition gives up to 9 slots (three extra Gen4 slots). One slot is used by way of a compulsory Ethernet adapter. reckoning on what is connected, up to three of these slots could exist reserved for different functions. IBM i is just supported on the 6 cores and eight core processors and is restricted to four cores of IBM i with a utility tier of P10.
vigor methods are ordinary for his or her RAS (resiliency, availability, serviceability) points. IBM POWER9-based mostly methods are talked about to bring up to 10X faster bandwidth acceleration and 50% enhanced remembrance bandwidth than related x86 options. They also assist the newest in records switch applied sciences, together with PCIe four.0 and novel NVLink and OpenCAPI interfaces. This unusual server technology comes together with twice the reminiscence footprint than POWER8. changes within the remembrance subsystem and using the latest DIMMs enhance rate/efficiency.facets:
variety of processors:
up to 2
IBM POWER9 Scale-Out SMT8 processor (12-core, 10-core, eight-core, 4-core choices)
Cores per processor:
4, 8,10 cores per socket
highest processor frequency/cache:
3.9 GHz/512k L2 and 10 MB L3
I/O expansion slots:
the one socket version provides up to 6 PCIe ( 2 x Gen4 and four x Gen3) slots and the two socket edition gives as much as 9 slots (3 extra Gen4 slots). One slot is used with the aid of a compulsory Ethernet adapter. reckoning on what's connected, up to 3 of these slots can exist reserved for other applications.
One front USB three.0 ports – Two rear USB three.0 ports – Two HMC 1 GbE RJ45 ports – One equipment port with RJ45 connector – 1x USB 3.0 entrance, 2x USB 3.0 rear, 2x HMC 1 GB Eth RJ45 ports, one equipment port with RJ45 connector, 2x extravagant pace 25 Gb/s ports
highest reminiscence/# slots/velocity:
as much as 4 TB/32 IS RDIMM slots/up to 2666 Mhz
highest Persistent reminiscence:
S922/S924 has two inside direct connected storage connectors, an NVMe card and a SAS cardhelp:
The electronic services internet portal is a lone cyber web entry factor that replaces the distinctive entry features historically used to entry IBM cyber web services and guide. This internet portal enables you to gain more straightforward entry to IBM materials for information in resolving technical problems. The newly superior My systems and premium Search services get it even less demanding for digital service Agent-enabled consumers to music device inventory and discover pertinent fixes.
My programs gives advantageous studies of installed hardware and application the usage of tips gathered from the programs via IBM electronic service Agent. studies can exist create for any system linked to the client's IBMid. top rate Search combines the feature of search and the charge of electronic provider Agent counsel, proposing advanced search of the technical advocate knowledgebase.
“it is a transparent altenative if you Have already got a longtime IBM AIX environment and want to maintain compatibility and retain efficiency. There are comparable alternate options now which may exist in a position to derive you to 3 nines for 1/2 the charges,” talked about a Senior manager of IT in the manufacturing trade.Key markets and disburse situations:
IBM energy programs S922 server without rigor integrates into a firm’s cloud & cognitive way and promises advanced expense performance for mission crucial workloads.
POWER9 is designed from the floor up for facts intensive workloads dote databases or analyticsexpense:
20 core, 512 GB, $37,222. The utility is expensive.
“it's a product with high efficiency, effectivity and pecuniary indices in the IT market,” illustrious an functions Engineering within the education industry. "Deployment is awfully handy, however took more than three months. It proved low-cost ultimately.”
IBM energy S922
Max Processor Frequency
three.9 GHz/512k L2 and 10 MB L3
Max Persistent reminiscence
2 POWER9 Scale-Out SMT8
suitable processing power
August 20, 2018 Alex Woodie
the lack of IBM i expertise in the midrange neighborhood has been debated at wonderful length, during this ebook and different venues. even if there’s a essential shortage of IBM i skills or no longer, no one will wrangle with the indisputable fact that it’s vital to retain one’s technical talents up-to-date, which is the focus of attention of a brand unusual educational outfit calling itself IBM i Competence that’s protecting its first reputable adventure this week in Scandinavia.
IBM i Competence turned into founded by using energy techniques Champion Torbjörn Appehl prior this year with the goal of presenting centered academic sessions on specific IBM i topics for tremendously miniature companies of people. The goal is to convey 20 to 30 americans collectively for 2, three, or 4 days, where they can derive palms-on practising on pertinent issues, comparable to programming with Rational Developer for i (RDi), free-form RPG building, SQL on IBM i, security, and systems management from the properly consultants in the field.
the first casual IBM i Competence path came together this spring after the customary Sweden adventure. The route turned into taught by using RDi professional Charles Guarino on a cruise boat visiting between Sweden and Finland. “It become a fun one,” says Appehl, who also heads the standard Sweden user group.
This week’s undergo comprises 4 days of training with the aid of Guarino, together with two days in Stockholm, Sweden, and two days in Oslo, Norway. It should exist adopted in October by means of a further two-day adventure in Sweden that features SQL on IBM i professional Birgitta Hauser of Germany. “She is a well-liked lady in Sweden,” Appehl tells IT Jungle. “i hope there will exist a bunch of individuals.”
The train of IBM i Competence (www.ibmicompetence.com) is to enrich – however now not attempt to exchange – the training that IBM i gurus can derive hold of at routine dote tolerable Europe and POWERUp, Appehl says.
“americans should quiet at utter times depart to conferences. That’s the massive community, where they perceive unusual issues, what they don’t understand,” he says. “probably somebody goes depart to POWERUP and attends Charles’ session. if you choose you want to disburse extra time on a subject matter and exist taught more, which you can depart to IBMicompetence.com and spot if there’s a direction purchasable.”
presently, there are 10 lessons listed on the web page. besides the classes through Guarino and Hauser, there are lessons from Paul Tuohy, Mats Lidström, dawn may additionally, and Buur Rasmussen. several other excellent IBM i names Have signed up to exist trainers but haven’t been scheduled yet to train any courses. Alan Seiden, of Seiden neighborhood fame, is reportedly working with Appehl’s group, too.
besides being the top of general Sweden and an IBM power Champion, Appehl isn’t intently affiliated with any unavoidable community. He stopped working with ARCAD application closing yr, and his latest agency, the Canadian IT capabilities gargantuan CGI, has him specializing in compliance initiatives.
Appehl is the disburse of that freedom to assign on courses with any IBM i educator any station on the planet. “If there’s demand in Spain, i will exist able to toil readily with IBM Spain,” he says. “we will Do this in every lone place.”
Appehl appears to recall actual enjoyment in pairing up suitable IBM i educators dote Guarino and Hauser with folks who charge the education and can assign it to disburse at their jobs. “I toil with the redress audio system on the earth,” he says. “I recall the initiative, question the teacher, assign collectively the date, locate the amenities, and get it turn up. For me, it’s convenient.”
preserving midrange professionals up-to-velocity with the latest applied sciences is an ongoing challenge. Appehl has heard enterprise leaders lament the inability of individuals with IBM i abilities, and disburse it as a intent emigrate off the platform. while few schools train IBM i lore today, that has utter the time been the case, he says. “Then how they will find RPG developers?” he asks. “just depart find yourself a developer, instruct him RPG. It’s not elaborate. kids in faculty find out how to exist trained unusual languages.”
The greater individuals exist taught, the greater they need to gain lore of, he says. “agencies that exist vigilant of more withhold the platform alive,” he says. “this is essentially the most modern platform you can get. people don’t know that.”connected reports
CIO apex Brings execs as much as precipitate On IBM i
Peeking outside Of The IBM i Bubble
IBM i Salaries Drop Vs. other platforms, nevertheless it’s no longer utter bad
RPG Programmer shortage Blamed For CSC’s salary omit
unusual releases update, phone consulting, emergency mobile consulting, net capabilities basis access, electronic mail consulting
complete constrict period
4 months, four months, four months, four months, four months
carrier Availability (Hours a Day)
enterprise hours, 24 hours a day, 24 hours a day, 24 hours a day
carrier Availability (Days per week)
Monday-Sunday, Monday-Sunday, Monday-Sunday
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The technology industry isn't known for having an abundance of dividend growth companies due to the big ups and downs of the industry and the higher probability of a competitor coming along with a "better mousetrap". One of the companies that caught my eye is Cisco Systems (CSCO). Cisco is a budding dividend growth investment with 9 consecutive years of increases.
The pivot away from just a networking hardware company to comprise both software and subscription-based services has thus far been the birthright sprint by management and should advocate insulate the business from some of the fluctuations of the economy. Cisco is striving to become the go-to networking company for businesses around the world.
When it comes to investing, valuation is everything. If you don't believe me, question anyone that purchased shares of Cisco in 2000 if they wish they had paid more attention to valuation back then.
Data by YChartsDividend History
When I invest my savings into a business, I want to exist rewarded with excess cash that the business doesn't need to expand. That means that I want to find companies that are able and willing to pay out their excess cash via dividends. By shifting the focus to dividends, rather than capital gains which are notoriously fickle, it will withhold me satisfied when the markets depart haywire and should advocate to withhold the focus on the business' fundamentals instead of the emotional reactions to the share price.
Image by author; data source Cisco Systems SEC filings. An interactive version of this chart is available here.
Cisco is in the beginning stages of its transition to a dividend growth investment. Cisco first initiated a dividend back in 2011 and has raised payments every year since then. That gives them a 9 year dividend growth strain and gives them the title of Dividend Challenger.
The 1-, 3- and 5-year dividend growth rates since 2011 can exist create in the table below.Year Annual Dividend 1 Year 3 Year 5 Year 2011 $0.1800 2012 $0.3600 100.00% 2013 $0.6500 80.56% 2014 $0.7400 13.85% 60.20% 2015 $0.8200 10.81% 31.57% 2016 $0.9900 20.73% 15.06% 40.63% 2017 $1.1300 14.14% 15.15% 25.71% 2018 $1.2800 13.27% 16.00% 14.51% 2019 $1.3800 7.81% 11.71% 13.27%
Table and calculations by author; data source Cisco Systems SEC filings. An interactive chart of the data in the table is available here.
Cisco has been very aggressive with their dividend growth over the last 9 years which has been exotic for investors. Going forward I would await dividend growth to more closely track growth in earnings and free cash tide as the payout ratio has risen to ~46% for FY 2018.
Image by author; data source Cisco Systems SEC filingsQuantitative Quality
The might of a business' moat is difficult to quantify; however, there are signs of that might within the company's financials. A company might Have pricing power, scale, brand, regulatory or other advantages over their competitors. Those advantages reveal themselves through higher growth prospects, better operational efficiency, higher margins and most importantly gobs of cash flow.
Image by author; data source Cisco Systems SEC filings
Since the conclude of Cisco's FY 2009 revenue has grown from $36.1 B to $48.3 B. That's helpful for 33.7% total growth or roughly 3.3% annually. The top line growth has supported solid growth in cash tide from operations which has grown from $9.9 B to $13.7 B over the same period. That works out to 38.1% total growth or 3.7% annually.
Cisco's free cash tide conversion has remained stalwart with a 90.8% tolerable over the last 10 years. Free cash tide has improved from $8.9 B in FY 2009 to $12.8 B for FY 2018 which represents 44.3% total growth or 4.2% annually.
Since growth in free cash tide has slightly outpaced the growth in revenue, Cisco has seen modest improvement in its free cash tide margin. Over the last decade the tolerable for Cisco's free cash tide margin has near in at 24.0% and for the most recent 5 years the tolerable sits at 25.0%.
Image by author; data source Cisco Systems SEC filings
Alternatively, I dote to examine the FCF ROIC since I believe this gives a better view of the efficiency and profitability of the company. The FCF ROIC is the annual cash return that a business generates based on the capital invested in the business. I also inspect at the FCF ROIC "Net" value which nets out the cash on the equilibrium sheet from both equity and debt.
Image by author; data source Cisco Systems SEC filings
We perceive a similar picture in regards to the FCF ROIC as they did with the FCF margin. The FCF ROIC has been relatively even over the last 10 years. I typically want to perceive a FCF ROIC above 10% and Cisco has been well above that every year for the last decade.
To understand how Cisco uses its free cash flow, I cipher 3 variations of the metric, defined below:
I want the businesses that I invest in to maintain a positive FCFaDB the majority of the time. That means that the business generates excess cash above what is needed to maintain and grow the business as well as reward owners with dividends and share repurchases through internally generated funds.
Image by author; data source Cisco Systems SEC filings
As they saw earlier, Cisco has grown its FCF at a decent 4.2% rate over the last 10 years. Over the entire period, Cisco has generated $109.6 B in FCF which has allowed management to pay out $29.5 B in dividends to shareholders. That puts the cumulative FCFaD for the last decade at a wholesome $80.1 B. From 2011 through the conclude of 2018, the year Cisco first started paying a dividend, the cumulative totals are $91.6 B in FCF and $62.0 B in FCFaD.
Cisco has spent a total of $67.6 B on share repurchases over the last decade which puts the total FCFaDB at $12.5 B. Cisco has typically maintained a positive FCFaDB; however, for FY 2018 and the TTM term the FCFaDB is at -$11.4 B and -$15.9 B, respectively. From FY 2011 through FY 2018, the term since dividends Have been paid, the FCFaDB is quiet $5.9 B.
The $67.6 B spent to buy back shares has reduced the share signify from 5.857 B at the conclude of FY 2009 to 4.881 B at the conclude of FY 2018. That's helpful for a total reduction of 16.7% or ~2.0% per year.
Image by author; data source Cisco Systems SEC filings
The following chart shows the ratio of cash returned to shareholders via dividends and share repurchases. While I concede that share repurchases are a more tax efficient way for companies to return excess cash to shareholders, oftentimes companies buy back shares when they're expensive just to reissue them when they're cheap. That's a lose-lose for shareholders and why my preference is for dividends to exist the primary means of cash return.
Image by author; data source Cisco Systems SEC filings
Since initiating a dividend in 2011 the ratio between dividends and share repurchases has fluctuated from ~10% to ~55% of cash being return via dividends.
Moving on to the equilibrium sheet there's not much to worry about here, unless you're a stickler for only investing in companies that carry no debt. Cisco's debt to capitalization ratio has been fairly consistent with debt accounting for ~28% of the capital structure over the last 10 years. There has been a slight augment in debt on the equilibrium sheet at the conclude of FY 2018; however, the debt load is quiet very conservative at just 37%.
Image by author; data source Cisco Systems SEC filings
The debt that Cisco does carry is very manageable. In FY 2018, Cisco's interest expense totaled $943 M and was covered by free cash tide 13.6x. Another encouraging badge is that utter of Cisco's debt load could exist paid off with just 2.0 years of FY 2018's free cash tide and 3.7 years of FY 2018's FCFaD.Valuation
One of the methods that I disburse to determine the valuation of a business is the minimum acceptable rate of return, "MARR", analysis. In a MARR analysis, you assess the future earnings and dividends that a company will bear as well as the future valuation on those earnings. With that information, you then determine whether the expected return meets your minimum threshold for investment.
On tolerable analysts await Cisco to report FY 2019 earnings per share of $3.08 and $3.38 for FY 2020. Over the next 5 years, analysts are forecasting 9.9% annualized earnings growth. I then assumed that earnings growth would gradual to 6.0% for the following 5 years and that dividends will exist paid at a ~45% payout ratio.
In order to determine what market participants will value Cisco's earnings at in the future, I let history exist my guide. From 2009 through 2018, Cisco typically traded between a 10x-25x TTM P/E ratio. For the MARR analysis, I'll examine multiples covering that range.
Data by YCharts
The following table shows the potential internal rates of return that an investment in Cisco could provide assuming a purchase charge near the $55 current price. The return estimates are based off the assumptions mentioned above. Returns comprise estimated dividend payments and are dash through the conclude of calendar year 2023, "5 Year", and calendar year 2028, "10 Year".
Alternatively, I dote to toil backwards to determine what charge would bear the returns that I want. The target returns that I will disburse to determine the purchase charge targets are 10% and 15%.
Cisco is a cash generating behemoth in the tech space. Cisco's free cash tide margins are stalwart at 20.0%+ and they transform over 90% of operating cash tide into free cash tide which is an outstanding level. The pivot from just a networking hardware company to one that is focused on both the hardware as well as software and other subscription based offerings should continue to better margins as well as better the "stickiness" of Cisco with its customers.
Unfortunately, the valuation is too rich currently for a "value" purchase. The business should quiet accomplish well over time and continue to reward owners with dividend increases along the way. However, at a P/E of 18x FY 2019's earnings estimates, the valuation appears to exist on the high side of objective value.
Cisco should quiet generate solid returns for investors; however, everything must depart birthright to generate at least 10% annual returns. That includes potential company specific hiccups as well an economic expansion cycle that is running long in the tooth. There appears to exist no margin of safety at the current charge levels unless you await a rapid augment in the pace of growth for Cisco.
I would treasure to add shares of this budding dividend growth company to my portfolio; however, due to the valuation, I will exist holding out for better opportunities to purchase shares of Cisco. I would become interested in adding more shares of Cisco should the share charge decline to the mid-$40s or lower.
I am not a pecuniary professional. delight consult an investment advisor and Do your own due diligence prior to investing. Investing involves risks. utter thoughts/ideas presented in this article are the opinions of the author and should not exist taken as investment advice.
Disclosure: I am/we are long CSCO. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I Have no business relationship with any company whose stock is mentioned in this article.
CLEVELAND, Ohio — Interested in using solar power at home or for business?
Cuyahoga County’s Department of Sustainability will host three meetings later this month for residents who might exist interested in forming a co-op to reduce the cost of installing solar arrays.
Meeting locations and dates:
• Tuesday, April 23, 6 to 8 p.m. — Brookpark Community focus community room, 17400 Holland Road • Wednesday, April 24, 6 to 8 p.m. — remarkable Lakes Tasting Room, 2701 Carroll Avenue, Cleveland • Thursday, April 25, 6 to 8 p.m. — Cuyahoga County Public Library Mayfield Branch, 500 SOM focus Road
Participants will learn about:
•How to determine if their home is birthright for solar energy
•The 30 percent federal solar tax credit
•How to disburse the county’s low-interest advocate loan program to buy a solar system
•How to resolve technical issues
•Typical industry warranties
•Cost savings involved in forming a buyer’s co-op to solicit bids from installers.
The Department of Sustainability is partnering with Solar United Neighbors to present the meetings. The organization has worked with nearly a dozen solar co-ops in Ohio, helping 170 homes in the state depart solar, according to a county news release.
Once the Cuyahoga County 100 prospective co-op members are found, bids will exist solicited from installers, and co-op members will choose which installer to depart with, the release said.
Members will receive an individualized proposal that incorporates a discount, as the co-op will allow members to save money by making large-scale group purchases.
Director of Sustainability Mike Foley said this will exist the third round of Cuyahoga County’s solar co-op program.
He expects those who associate this co-op to save $25,000 per household over 25 years. The 80 local homeowners who Have already participated in past co-ops Have saved about 20 percent on the cost of solar installations, Foley said.
“The disburse of solar power is such a vital way to advocate better the environment as they struggle with the effects of climate change,” said County Executive Armond Budish in the release. “This program allows residents and business owners to advocate growing renewable energy production in Northeast Ohio while saving money at the same time.”
STUTTGART (Reuters) - Daimler Chief Executive Dieter Zetsche said on Tuesday the debate surrounding the safety of Boeing’s aircraft shows how arduous it can exist to win public acceptance for autonomous car technology.
Daimler CEO Dieter Zetsche speaks during the China development Forum in Beijing, China March 24, 2019. REUTERS/Thomas Peter/Pool
In the wake of two plane crashes, regulators across the world Have grounded the 737 MAX aircraft pending an investigation into whether Boeing’s software-based automated flight control system is safe.
“What is very considerable is the psychological dimension. If you inspect at what is happening with Boeing then you can imagine what happens when such a system has an incident,” Zetsche said, commenting on the motor industry’s efforts to develop autonomous cars.
Half of U.S. adults contemplate self-driving vehicles are more hazardous than those driven by people, while two-thirds would not buy a fully autonomous vehicle, a Reuters/Ipsos poll create this week.
In the same poll, about 63 percent of respondents said they would not pay more to Have a self-driving feature on their vehicle, and 41 percent of the rest said they would not pay more than $2,000.
Companies developing self-driving technology Have assign test fleets on public streets, while Alphabet Inc’s Waymo unit has deployed a miniature fleet of self-driving vans to provide rides for customers in Arizona.
“We (in the industry) Have a responsibility to educate people about the benefits and the risks of the technology,” said Chris Urmson, chief executive of self-driving cars start-up Aurora and the former head of Google’s autonomous cars project.
Accidents, including a fatality involving an Uber test vehicle in Arizona last year, Have grabbed public attention and reinforced perceptions that self-driving technology is not yet ready.
Regulators for their Part Have yet to settle on rules applying to more futuristic self-driving cars that would exist completely autonomous, not even, for example, having a steering wheel.
The auto industry should insert autonomous systems in stages, as a way to build acceptance for complicated but potentially safety-enhancing automotive technology, Zetsche said at the Auto Motor and Sport conference in Stuttgart.
“Even if autonomous cars are 10 times safer than those driven by humans, it takes one spectacular incident to get it much harder to win widespread acceptance,” he said.
Separately Zetsche said Daimler was considering introducing fuel cells to power electric buses and trucks.
Reporting by Edward Taylor; Editing by Michelle Martin, Douglas Busvine and Jan Harvey
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