This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

NetApp Could Give Tech a Pick-Me-Up

SUNNYVALE, Calif. ( TheStreet) -- The tech sector's ongoing recovery may get a shot in the arm later today when storage specialist NetApp (NTAP - Get Report) reports its eagerly anticipated first-quarter results.

The Sunnyvale, Calif.-based firm, which recently lost out to rival EMC (EMC - Get Report) in the battle to acquire Data Domain (DDUP) has been attracting plenty of attention recently.

Seen as a rising star of the hardware sector, the company's high-growth profile has endeared it to analysts and investors alike.

"Demand appears to have stabilized and NetApp continues to focus on reducing costs and protecting margins," wrote Bill Choi, an analyst at Jefferies & Company, in a note released this week. "Recent run-up in [NetApp's] share price largely reflects these positive trends."

NetApp's shares have climbed more than 60% this year, underlining the company's growing status in the tech space. Widely regarded as one of the hottest stocks in the vibrant storage space, NetApp has averaged 28% growth in the last five years, and has repeatedly been touted as M&A bait.

Archrival EMC may have set the tone for NetApp's quarter, recently beating analysts' second-quarter estimates. The storage giant's sales increased more than 3% sequentially, raising hopes for NetApp at a time when investors are desperate for signs of a rebound.

"Almost every large tech company has indicated that order trends are improving quarter-over-quarter and month-over-month," wrote Kaushik Roy, an analyst at Wedbush Morgan, in a recent note. "Revenues from Netapp's biggest Other Equipment Manufacturer (OEM) [partner] in Europe, Fujitsu, should be up materially quarter-over-quarter as things are settling down."
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
EMC $24.07 -3.20%
IBM $142.92 -3.40%
NTAP $31.11 -2.70%
AAPL $108.79 -3.50%
FB $87.34 -2.30%


Chart of I:DJI
DOW 16,087.51 -440.52 -2.67%
S&P 500 1,922.69 -49.49 -2.51%
NASDAQ 4,662.2660 -114.2420 -2.39%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs