While the earnings-per-share outlook was inline with expectations, Network Appliance provided a positive revenue outlook for the fourth-quarter with IBM business just beginning to ramp.
More Quotes from Andrew Neff:
Our estimates reflect the strong demand trends for data storage products, increasing acceptance of the Network Attached Storage model, and the company's ability to execute with regard to expanding its market opportunity into new verticals, new applications.Andrew Neff
In our view, investors underestimate Apple because they tend to look at the company 'linearly' when they need to look at Apple 'non-linearly'. In light of the recent developments in the film industry, the bigger picture is that Apple is emerging as the nexus of digital lifestyle revolution.
Andrew Neff
More importantly, we are rather surprised by the launch plan for Mac OS X. Apple plans to release the new OS into stores in March and then bundle onto systems in July -- which creates the potential of a lengthy stall by customers waiting for the new OS.
Andrew Neff
They're trying to create value-added. We are seeing all computer companies focus on new ways of generating revenue.
Andrew Neff
We reiterate our 'buy' rating on Apple and our price target of 80 based on valuation of two times the company's EPS growth rate of 20 percent, reasonable in view of its innovative products and strong product cycles, ownership of technology, strong balance sheet and financial management, increasing return on invested capital and potential for future positive surprises.
Andrew Neff
The impact on Apple is not clear yet. But the French are late Microsoft and Apple are already dominating the market.
Andrew Neff
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I can't explain it, but spiritually it makes sense - though I don't understand how it does make sense.
Kevin McDonald
In the adversity of our best friends we often find something that does not displease us.
Brigham Young