NetApp Jumps on AI Storage Demand, Outpaces Older Tech Names
NetApp shares jumped over 26% to $180.12 midday Friday after the company beat quarterly estimates and raised its outlook on strong AI-driven demand. Fiscal Q4 revenue rose 12% to $1.948 billion, with non-GAAP earnings up 26% at $2.43 per share. All-flash array revenue hit a record $1.2 billion. NetApp guided fiscal 2027 revenue to $7.325–$7.575 billion.