DELL -- Time to Buy ????

[adios]

Don't laugh too much now. Not one of my types of stocks but I'm seriously thinking about DELL here. DELL had a revenue and earnings warning the other day:

Dell slumps after cutting sales outlook

Lowest PE I've seen for a long time on this one. There was an article in Wednesdays WSJ regarding the problems PC makers including DELL have had in their consummer electronics initiatives. It may or not work out for DELL in the long run but I don't see this warning as amounting to much. I think this one would require some patience but I'd be looking for a target price of $40 or so. Thoughts?