Quite apart from its new relationship with CMGI, Merrill Lynch & Co thinks Compaq Computer Corp needs a clearer enterprise internet strategy in short order: even Hewlett-Packard Co is leaving it in the dust now. A damning indictment indeed. Meanwhile, the brokerage expects Compaq may begin bundling CMGI- derived content with its hardware as one way of offsetting competition from the new breed of free PC and bundled ISP service tie-ins that is going to squeeze consumer PC prices further.
