Crystal, did you actually read the article, especially NTAP's CEO comments. Did you notice that sh*ty warning they gave yesterday ?
In case you missed this section in your article you posted:
But Network Appliance's chief executive, Dan Warmenhoven, told Reuters in an interview that he did not agree that companies were ready to spend.
"I think that is putting an optimistic picture on things. In fact I made almost those same comments in the February conference call we had when we announced the results of the January quarter," he said.
Technology officers are cutting budgets repeatedly, he said. "Every time they go back with a new budget, they think they've got things locked down, the CFO or whatever says 'No no no, take it down again.' And we've seen this cycle recur in many, many accounts."
Network Appliance also faces problems of its own, since 25 percent of its customers are tech firms where spending has ground to a halt. Established firms it had targeted for expansion are also not willing to invest now, he said.
P.S. I picked up some NTAP day before yesterday, and plan to add over time once NTAP can give me a good reason. Any comments on previous post this morning ?
Message 15653831
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