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Technology Stocks : Network Appliance

NTAP 103.23

-2.8%

3:59 PM EST

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To: limtex who wrote (8864)	8/3/2001 12:12:19 PM
From: JakeStraw	Read Replies (2) of 10934

ABN Amro cuts Network Appliance estimate biz.yahoo.com NEW YORK, Aug 3 (Reuters) - ABN Amro said Friday it cut its 2002 earnings forecast for computer storage company Network Appliance Inc. (NasdaqNM:NTAP) to 10 cents a share from 20 cents due to the company's aggressive pricing strategy. Analyst Bill Shope said the company will be hit by either lower margins or smaller market share, and will not outperform its peers over the next 12 months. Shope added that Network Appliance will be hurt by pricing pressure in the October quarter and may have already pulled demand from the October quarter to cover a demand shortfall in the June quarter. Shope said he expects the company to earn 26 cents a share in 2003. He is maintaining his ``hold'' rating on the stock.

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