12/17/2023 0 Comments Netapp stock proWill NetApp’s Stock Recover Similarly From The Current Crisis? In comparison, the S&P bounced back by about 48% over the same period. However, NetApp stock recovered strongly post the 2008 crisis to about $30 in early 2010 – rising by 159% between March 2009 and January 2010.This marked a similar drop to the broader S&P, which fell by about 51%. We see NetApp stock declined from levels of around $23 in October 2007 (the pre-crisis peak) to levels of around $12 in March 2009 (as the markets bottomed out) – implying the company’s stock lost as much as 50% from its approximate pre-crisis peak.Notably, the company derives a bulk of its revenues from the U.S., which has become the new epicenter of the outbreak – recording the largest numbers of COVID-19 cases across the globe.īut NetApp Stock Witnessed Something Similar During The 2008 Downturn This is likely to adversely impact the company’s revenues as major companies are likely to delay expenses related to upgrading infrastructure and software. The decline in Netapp’s stock is understandable, considering the impact that the outbreak and a broader economic slowdown are likely to have on total industrial and economic activity. NetApp’s Stock Has Fallen Because The Situation On The Ground Has Changed What’s Next For NetApp Stock After Shedding 12% In The Past Month?.Here’s Why NetApp Stock Has Underperformed The Market Since 2018.Here’s Why NetApp Stock Has Failed To Outperform The S&P.Despite Rising Demand For Its Services, NetApp Stock Has Failed To Outperform The S&P.After Strong Outperformance, Can NetApp Stock Maintain Its Streak?.Despite A Rise In Sales, Here’s Why NetApp Stock Has Underperformed The S&P.Despite the recovery, the stock is still down 30% since the beginning of the year. about 27% gain in the S&P 500) to its current level around $43. government has helped the stock price recover 22% over recent weeks (vs. Notably, though, the multi-billion dollar stimulus package announced by the U.S. A bulk of the decline came after March 6, when an increasing number of Coronavirus cases outside China fueled concerns of a global economic slowdown. NetApp stock lost 34% of its value (identical to a 34% decline in the S&P 500) between February 19 and March 23. The rally in the equity market continued till February 19, with the S&P 500 reaching a record high, but the trend reversed sharply over the following weeks. The World Health Organization (WHO) declared a global health emergency at the end of January in light of the coronavirus spread. 2020 Crisis Comparison: How Did NetApp Stock Fare Compare With S&P 500? Our conclusion is based on our detailed comparison of NetApp’s performance vis-à-vis the S&P 500 in our interactive dashboard analysis, 2007-08 vs. Comparing the trend in NetApp’s (NASDAQ: NTAP) stock over recent months with its trajectory during and after the Great Recession of 2008, we believe that the stock can potentially gain 40% to reach almost $60, once fears surrounding the coronavirus outbreak subside.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |