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Technology Stocks : Network Appliance
NTAP 117.26+1.1%Dec 5 9:30 AM EST
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To: Jack Hartmann who wrote (5127)1/8/2001 5:18:26 PM
From: Jack Hartmann  Read Replies (1) of 10934
 
TSCM article

Network Appliance Isn't Worth Waiting For
By James J. Cramer

1/8/01 3:04 PM ET

When I was in Las Vegas speaking for the Money show in November, everybody wanted to own Network Appliance (NTAP:Nasdaq - news - boards). The company had just reported and it had been heavily sold down for reporting an in-line quarter.

I wanted to go the other way. I thought that an in-line quarter meant that the quarters to come would be even rockier. Now I see these "caching" solutions and storage device stocks getting killed. This stock still has 49 points left in it and I would have to believe that, if EMC (EMC:NYSE - news - boards) and Veritas (VRTS:Nasdaq - news - boards) and Brocade (BRCD:Nasdaq - news - boards) are getting hit, this one's not done going down. In fact, I think this is the most overvalued of that group and is more likely to disappoint in earnings than the others.

I wanted to wait, again, to hear what the companies had to say out in Scottsdale. But with this group in free-fall, I wouldn't wait to see if Net App can talk up its stock. It's not worth waiting with Net App.

thestreet.com

Apparently going from $156 was not enough of a hit for him. Really wonder where he gets his leads sometimes.

Jack
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