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Network Appliance Rallies on Gilder Talk

The stock jumps, continuing a yearlong lovefest in shares of the network-storage concern.

Improbably enough, the market's hottest computer hardware stock has gotten even hotter.

Network Appliance

(NTAP) - Get Report

, which has already gained 40% in the last month and 550% over the last year, was hitting the

afterburners again near midday. The stock was up $7.25, or 6.1%, to $125.31.

The source of the fresh momentum has come out of Lake Tahoe, Calif., where tech stock

maharishi

George Gilder foamed some extremely positive remarks on the company at the half-eponymous

TheStreet Recommends

Gilder/Forbes Telecosm Conference

on Friday.

Gilder's confidence may have emboldened investors betting that NetApp's network-attached storage technology make inroads against

EMC

(EMC)

, the current king of storage. But the scale of the stock's runup is likely more connected to hopes that Gilder will name NetApp to his Telecosm Technologies list in the October issue of his monthly newsletter.

TheStreet.com

has previously explored the

Gilder effect.