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NetApp Stock Slides Despite Earnings Beat. Here’s Why.

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NetApp (NTAP) stock fell sharply Thursday despite the enterprise data storage company reporting fiscal first-quarter results ahead of estimates. The stock was riding a more than 70% rally since April and some analysts flagged concerns about growing component costs chipping away at NetApp’s margins. San Jose, Calif.-based NetApp reported adjusted earnings of $2.58 per share from sales of $2 billion…

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