After years of soundly outgrowing the storage industry, NetApp (NASDAQ:NTAP) had a rough 2011, as tougher competition (I, II, III) led to weak earnings and market share losses. However, Piper's Andrew Nowinski expects NetApp to rebound in 2012, thanks to a product refresh that includes an upgrade to its Data ONTAP OS, and new mid-range hardware. Nowinski also likes how NetApp's valuation is near cyclical trough levels. (previously)