NetApp misses revenue, and lowers guidance, but only 10% down...

If Powell's speech doesn't fuck up the market tomorrow, it'll have a decent rally and momentum from the market, and the overreaction that's happened overnight.

There are plenty of other companies who have lowered forecasts, fell sharply, and rebounded. Although not too many have fallen by 20% over this type of forecast.

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I remember Zoom fell last week after earnings reported weaker forecasts about 9-11%, and then rallied to a 7% drop next morning. Ended the day weaker, but rallied the next few days slightly.

It is a massive overreaction, although earnings for next quarter are estimated to be lower than the forecast, the year over year revenue is still in line with estimates, and eps is higher this quarter and next. They've come in at the higher end of estimates for revenue if not beat most of the time, so I doubt they'd miss the revenue estimate by that much. Currently they're expected to miss next quarter revenue by about 1%, I don't see how it falls this hard.

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I think it'll rally, and end being like 7-8% down tomorrow. The 20% drop isn't justified.