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Technology Stocks : Network Appliance

NTAP 111.56

+2.1%

Nov 28 12:59 PM EST

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To: Miguel Octavio who started this subject	1/11/2001 1:29:35 PM
From: Cooters	Read Replies (1) of 10934

From SSB Storage Report today. Cooters Network Appliance (NTAP, $55.00, 1H) We believe NetApp has gained momentum following EMC's Chameleon product launch and we expect to see it report solid F3Q01 results. We estimate F3Q01 revenues will reach $295.0 million, representing 95.0% yoy and 13.1% sequential growth, and EPS will be $0.10. We expect caching to be a soft spot, but international revenues (particularly Asia) to show strength. We believe NetApp will experience margin erosion from 61.9% last quarter to about 60.0% due to increased disk capacities and the company's entry into the lower end of the market. We anticipate a slight increase in ASPs fueled by its new, higher end product introduction last quarter.

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