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Technology Stocks : Network Appliance
NTAP 107.32+4.0%Nov 21 9:30 AM EST
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To: JRH who wrote (4012)8/17/2000 7:26:14 AM
From: JRH   of 10934
 
J.P. Morgan Initiates Coverage of Network Appliance
SAN FRANCISCO--(BUSINESS WIRE)--Aug. 17, 2000--J.P. Morgan Securities Inc. Computer Systems equity research analyst, Daniel Kunstler, today initiated coverage of Network Appliance (Nasdaq:NTAP - news) with a ``Buy'' rating and a 12-month target price of $110.

According to Kunstler, storage is the next ``big thing'' in the hardware space. Network Appliance (``NetApp'') will be one of the winners because it has caught the wave at the intersection of two trends: special-purpose appliances and storage as a key Internet infrastructure element.

NetApp is the leader in network attached storage (``NAS''), a technology that leverages existing short-haul networks defined by Ethernet, to manage storage independently from the servers that run the applications. ``If you let your imagination wander in terms of capacity additions required for an individual's personal records, that alone should give you an idea of growth potential,'' says Kunstler. ``We are recommending NetApp based on their strong growth and their leadership position in what we perceive to be a critical computer technology area.''

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The "next big thing"? I guess better late than never <gg>
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