NTAP hit 56 7/8 today, a new high. Perhaps this is one of the reasons why:
Merrill Lynch includes NTAP in 22 top tech stocks:
cbs.marketwatch.com
excerpts follow:
Merrill analysts pick tech stocks
Many familiar names recommended, but some surprises
By Emily Church, CBS MarketWatch
Last Update: 12:03 PM ET Sep 19, 1998
NEW YORK (CBS.MW) -- Merrill Lynch's technology analysts have picked 22 stocks that they think will outperform the market, based on a bevy of trends outlined in their 170-page report.
Some of the picks come from the technology and Internet "blue chips" -- valuations be damned. But there are some interesting twists: no PC makers; Intel (INTC), the leading chip maker, is left in the wilderness; and analyst Mark FitzGerald suggests premium prices may be paid in semiconductor equipment industry consolidations.
Hardware/software
In hardware, Steven Milunovich sees demand for specialized, inexpensive, limited-function appliances benefiting EMC (EMC), IBM (IBM), Network Appliance (NTAP), Sun Microsystems (SUNW).
"Set-top boxes, PDAs [personal digital assistants] and home appliances will ship in high volumes as the consumer increasingly drives technology," Milunovich writes. "Appliances are a threat to the status quo, including the Wintel duopoly (Microsoft [MSFT] and Intel) and PC vendors."
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