Outlook for Storage Spending Continues to Look Mediocre – UBS

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NetApp falls as UBS worries about spending, rivals; EMC also lower
“The outlook for storage spending continues to look mediocre as users pause and consider their alternatives. Although there still may be a storage upgrade cycle coming, we don’t see it in our recent survey work,” writes UBS, explaining why it’s downgrading NetApp (NTAP -3%) to Neutral. EMC (EMC -1.3%) investors also aren’t crazy about the commentary.