I don't follow ANALysts, they are always wrong and always late usually anywhere from 6 to 18 months BEHIND the curve (2-6 quarters BEHIND). I do my own DD, and NTAP is not in an earnings recession, it WAS not IS in a earning GROWTH recession which is much different than a plain old earnings recession. GROWTH is Geometric or exponential, whereas plain earnings are arithematic from one quarter to the next. The fact that markets DISCOUNT or PRICE IN FUTURE EARNINGS means that EARNINGS GROWTH is more important, that is EPS GROWTH is more imporatant than plain P/E or ANALysts P/E and earnings ESTIMATES. You are not BUYING the PAST you are buying a stock for its FUTURE PRICE PERFORMANCE and that means future streams (PLURAL) of earnings, or earnings growth. Storage and NTAP in specific has higher EPS GROWTH than the rest of the market, it is a MARKET OUTPERFORM. USB WARBURG had it right, it is a STRONG BUY, I would say ACCUMULATE. If you BUY after 4/01/2002 then you are buying too late, you will still be making a good buy, but you will pay much more than you are now. At this price NTAP is a STEAL. I imagine that the insiders are considering buying more than just exercising options and corporate CFO even are considering a buy back plan to fund future options and profit sharing plans cheaper than using later US Dollars at higher strike prices. It a question of VALUE and NTAP is oversold and undervalued.
I am,
Truly your$,
-Crystal Ball |
