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Technology Stocks : Network Appliance

NTAP 113.79

-1.6%

12:02 PM EST

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To: Miguel Octavio who started this subject	4/11/2001 10:48:47 AM
From: gingersreisse	Read Replies (1) of 10934

From Reuters about EMC: EMC said total consolidated revenue grew 29 percent during the first quarter. It had warned in February it expected revenue growth in the range of 25 percent to 35 percent, a slight retreat from the prior range of 33 percent to 38 percent. The warning also imperiled EMC's long-stated goal of generating $12 billion in revenue this year. Wit Soundview analyst Gary Helmig described the earnings miss as ``huge. They're blaming the economy, but competition is a much underrated factor. Hitachi had a very strong first quarter. If Hitachi didn't have this strength, EMC would not have this problem.'' So, Ruettgers at EMC says they're winning most of their deals, DW at NTAP says the same, Hitachi is becoming a more significant player, Customers are stretching out their ordering cycles, as the market slows from its torrid pace. Sounds like a reality check is in order... GSR

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