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NetApp, Inc. engages in the design, manufacture, marketing, and technical support of storage and data management solutions. It offers cloud data services, data storage software, data backup and recovery, all-flash storage, converged systems, data infrastructure management, ONTAP data security, and hybrid flash storage. Read More The company was founded by David Hitz, James K. Lau and Michael Malcolm in April 1992 and is headquartered in Sunnyvale, CA.
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NetApp Stock Is Tanking on Worries About Data Center Sales
Text size NetApp stock (ticker: NTAP) was sliding on Thursday in the wake of disappointing quarterly results and weak guidance that suggest lingering problems around data center sales. Some companies are “taking more time on data center spending,” NetApp Chief Executive George Kurian told Barron’s in a phone interview late Wednesday. Some are looking at hybrid clouds, he said, to offload their dependence from data centers. European customers, meanwhile, are taking longer on data center purchases in a nod ...
NetApp stock slides toward worst day since 2011 as earnings show slowdown in storage market
Shares of NetApp Inc. NTAP, -12.70% are off 12.8% in Thursday morning trading and on track for their worst single-day drop since Aug. 18, 2011 after the company missed earnings and revenue expectations the prior afternoon. "NetApp reported another weak quarter driven by a number of execution missteps as well as lengthening data center sales cycles and macro weakness particularly in Europe," wrote Goldman Sachs analyst Rod Hall, who kept his buy rating on the stock but removed NetApp from the firm's convicti...
NetApp Announces Dividend Hike as Stock Price Tumbles
Photograph by NASA Text size Data-storage provider NetApp (ticker: NTAP) has focused much of its business strategy on the cloud, but its shares haven’t soared over the past year. In fact, the stock sold off sharply on Thursday morning following disappointing earnings results released after the bell on Wednesday....
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