| Since the 2000 top, EMC has shown relative strength, compared to NTAP. EMC is, on a % basis, off less than NTAP, from those highs (faint praise). Recently, NTAP took out the April lows, while EMC didn't. The reason for this relative strength is that EMC's customer base is in a lot better shape than NTAP's. The supposed superiority ("lower cost of ownership", etc.) of NTAP's products hasn't given them any advantage, in the eyes on investors, during this downturn. NTAP longs may wish it would, and expect it to, but it hasn't happened. It will be interesting to see if EMC sets new lows now, and if the stock's strength relative to NTAP goes away. I'll buy more of both of them, on any significant weakness. |
