Yes, ML seems (finally) to have understood the concept of Network Appliance - and they repeated it several times in their recent analysis:
>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."
I count 3 references to "appliances" (4 if you include Network Appliance itself) in that blurb. Milunovich, who is well respected for his tech analysis, has not only understood the concept, he has extended it to other technology - as a wave of the future.
Think "appliances" - and when you do, you think of Network Appliance also. Nice tie-in.
NTAP has been very strong lately, and while I am cheered by this, I recall that the market does everything to excess. Let's hope for (just) steady, sustainable growth in both stock price and earnings.
As to another stock split - I hope it doesn't happen for a while. Nothing looks more lame than a pre-mature split followed by weakness. Big league stocks are comfortable in the range of, say, 60 to 100. NTAP is knocking on the door of the big leagues now. Let it run a while longer - that's my advice (as if they care).
Fort. |
