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Technology Stocks : Network Appliance -- Ignore unavailable to you. Want to Upgrade?

To: Gregory Rasp who wrote (2672)	3/15/2000 12:27:00 AM
From: Cirruslvr	Read Replies (1) \| Respond to of 10934

Why we were down today, at least according to Steve Milunovich at ML. Thanks to dadacha_99 for posting this on the Yahoo thread! (sorry for the bad formating) "Network Appliance (NTAP, $197 1/16, C-1-1-9) Stock Weak, Reiterate Buy (Steve Milunovich 212-449-2047/William Crawford 212 449 5417) NTAP shares are weak today on what we believe is a misinterpretaion of comments by NTAP?s CEO who is on the road in Asia. During the CEO?s presentation he referenced round numbers of $500 mill for revenue in FY00 which he expects to double to $1 bn in FY01. We believe investors mistook this as the CEO lowering the company?s forecast for revenue for FY00. We are currently estimating revenue of $570 mill in FY00 (4qe $171 mill). We spoke with company and it confirmed it is not changing its outlook for revenue. We are estimating revenue of $922 mill in FY01 and we believe the CEO?s comments could indicate the company is bullish for next year?s outlook Additionally, NTAP shares typically trade down when Inktomi (INKT, $206 1/8, D-2-1-9) is strong which may be contributing to today?s weakness. We believe the environment for NTAP has never been stronger. We reiterate our Buy rating on NTAP and view the weakness as a particularly good buying opportunity." So it seems today was just an erroneous blip for the stock. BTW, Pirate, you were right on the money with your reasoning!