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Why NetApp Stock Fell 17.8% Last Month

TheMotleyFool

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Shares of NetApp (NASDAQ: NTAP) shed 17.8% of their value in August, according to data from S&P Global Market Intelligence. The stock tumbled after the enterprise data services company cut its first-quarter sales and profit outlook and lowered its full-year sales growth guidance. Management cited macroeconomic factors (including the trade standoff between the U.S. and China) as contributing to reduced customer demand.