Its been a tough week for the storage sector. Most firms were whipped by the market following the events of September 11, only to be downgraded by Wall Street analysts who believe the negative impact of the attacks will continue well into the third quarter.
Sources at Wit Soundview say that business has ground to a near halt for EMC Corp. (NYSE: EMC) since September 11, and they believe that it is still not time to buy the stock.
Goldman Sachs & Co. analyst Laura Conigliaro cut her 2001 estimate for EMC from $0.22 to $0.20 per share and lowered her 2002 forecast from $0.27 to $0.22 a share.
Veritas Software Corp. (Nasdaq: VRTS), one of the strongest and most resilient stocks to date in this sector, felt the pinch from SG Cowen Securities. In a note to investors, Cowen said the firm has lowered its estimates on the stock to reflect softening demand outlook following the terrorist attacks. It has cut 2001 and 2002 EPS estimates to $0.61 and $0.65 from $0.71 and $0.85, respectively.
Merrill Lynch & Co. Inc. jumped on the bandwagon mid-week and lowered its earnings estimates for Network Appliance Inc. (Nasdaq: NTAP).
To realize the benefits of cloud-native software, an application must actually be cloud-native—designed to run in the cloud, interacting with disaggregated cloud services, fully manageable as code—to deliver the expected benefits.
By combining resources and expertise, the AI-Enabled ICT Workforce Consortium will offer a blueprint for how industries can adapt to an AI-dominated future.
IT leaders should heed the guidance of cybersecurity insurance providers who think businesses should prioritize security education, incident preparedness, regular internal audits, and ongoing vulnerability scanning and patching.
