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Technology Stocks : Network Appliance

NTAP 107.32

+4.0%

Nov 21 3:59 PM EST

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To: riposte who wrote (10017)	4/15/2002 2:08:58 PM
From: Jacob Snyder	Read Replies (1) of 10934

4/3/02 ML research: We believe NTAP will meet our revenue estimate of $205 million and EPS estimate of $0.04, delivering a gross margin of 60%. Even though IT budgets appear to be stabilizing, we still believe they are under scrutiny. As long as that holds true, NTAP should continue to perform well. NTAP is a NAS leader. Gross margins have remained strong and we expect this trend to continue. NTAP is using a new vertical selling model to attack the enterprise market. It is transitioning its customer base from a high concentration in internet and high technology to its six target verticals which include energy, major manufacturing, telecom, financial services, life sciences, and government in order to reduce dependence on any one industry. New products this summer include a fibre channel block device for getting into the SAN market, the just announced NearStore tape replacement product, and an iSCSI box for the IP SAN market. These products should expand NTAP's addressable market by 3x.

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