We continue to view the stock pullback as a buying opportunity, with Apple's price-to-earnings at 17 times our calendar 2007 operating earnings-per-share estimate.
More Quotes from Andrew Neff:
They are a fairly small player in a consolidating industry. Don't see acquisition of them in the near term.Andrew Neff
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.
Andrew Neff
It's good for Compaq at the margin, because it helps them fill out their product line, and it is good for IBM at the margin because it helps them to sell storage.
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
We think the company has multiple engines of growth coupled with better execution against the goals of diversifying its revenue streams.
Andrew Neff
We are encouraged by the new product launches, which are timed in front of the back to school season. While a low-end product would have margins below Palm's corporate average of 39 percent, we have already incorporated this expectation into our revenue and margin assumptions.
Andrew Neff
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