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Technology Stocks : Network Appliance

NTAP 110.90

-0.9%

Dec 22 3:59 PM EST

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From: pirate_200	11/16/2007 2:47:58 PM
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NTAP Q3 conference call transcript. See: investors.netapp.com The most interesting fact for me is that they did a stock buyback between Q2 and Q3 of $500M at an average price of $28.40. That's 1/2 a billion dollars worth of stock they bought back. It's one thing for a company to say they think their stock is undervalued, it's totally another to put 1/2 a billion dollars behind your words. There's another $700M remaining of buyback still authorized should they choose to execute.

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