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NetApp, Inc. - NTAP STOCK NEWS

Welcome to our dedicated page for NetApp news (Ticker: NTAP), a resource for investors and traders seeking the latest updates and insights on NetApp stock.

NetApp, Inc. (NTAP) is an American company at the forefront of hybrid cloud data services and data management solutions. Headquartered in Sunnyvale, California, NetApp provides a robust portfolio of cloud data services, enabling the seamless management of applications and data both online and on-premises. The company's core businesses encompass two primary segments: Hybrid Cloud and Public Cloud.

The Hybrid Cloud segment is NetApp's flagship, generating the majority of the company's revenue. This segment offers an extensive range of storage management and infrastructure solutions that empower organizations to modernize their traditional data centers by integrating cloud capabilities. Key offerings in this segment include software, hardware, and related support services designed to facilitate hybrid and multi-cloud operations.

NetApp also operates in the Public Cloud space, providing data services that optimize the use of public cloud environments. Their solutions are designed to ensure seamless data management, protection, and compliance across different cloud platforms.

NetApp Astra is another significant offering, providing application-aware data management services. This service is particularly valuable for organizations seeking to streamline their operations and enhance data lifecycle management. NetApp also offers professional and support services, including strategic consulting, design, implementation, and migration services, to help clients maximize the value of their IT investments.

Recent achievements for NetApp include strategic partnerships with leading public cloud providers, ongoing enhancements to their product portfolio, and a strong financial performance driven by the growing demand for hybrid cloud solutions. The company's commitment to innovation and customer-centric solutions positions it as a key player in the data management and storage industry.

For the latest updates and news about NetApp, visit the company’s official page or follow their news releases.

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NetApp has introduced new capabilities aimed at empowering customers to manage data-intensive workloads like GenAI and VMware environments more efficiently. Enhancements to NetApp's data and storage services aim to reduce resources and risks for managing these workloads across complex hybrid multicloud environments.

The launch includes the NetApp BlueXP Workload Factory for AWS, automating cloud resource management using industry best practices. The NetApp GenAI Toolkit integrates with Azure NetApp Files, facilitating secure retrieval-augmented generation workflows. Additionally, a joint reference architecture with Amazon Bedrock and Amazon FSx for NetApp ONTAP offers developers guidance on utilizing proprietary data in GenAI data pipelines.

Further updates feature enhanced Amazon FSx for ONTAP cloud storage, offering significant performance boosts, and expanded NetApp BlueXP disaster recovery support for VMFS datastores. These improvements aim to help users optimize deployment time, cost, performance, and data protection for strategic workloads.

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NetApp (NASDAQ: NTAP) and Evercore ISI are set to host a tech talk focusing on NetApp’s AI strategy and direction. The event will feature Russell Fishman, senior director, product management global innovation, solutions, and alliances, and Hoseb Dermanilian, senior director, worldwide sales specialist, AI solutions.

Moderator Amit Daryanani, senior managing director at Evercore ISI Institutional Equities, will oversee a question and answer session following the introductory remarks from NetApp.

No new financial information will be disclosed. The tech talk will take place on July 10, 2024, at 1:00 p.m. Pacific Time / 4:00 p.m. Eastern Time and can be accessed through the NetApp Investor Relations website.

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NetApp (NASDAQ: NTAP) has announced that its ONTAP Autonomous Ransomware Protection with Artificial Intelligence (ARP/AI) has received a top-tier AAA rating from SE Labs. This recognition stems from the solution's 99% recall rate in detecting ransomware and its 100% accuracy in identifying legitimate files, with no false positives. The AI-powered ARP/AI provides real-time detection and response, mitigating the risks of ransomware by integrating directly into primary storage systems. This solution has been rigorously tested against hundreds of ransomware variants and is currently available in tech preview.

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Spot by NetApp has achieved FinOps Foundation's Certified Platform certification, validating its capability in cloud financial management. The company has launched two new solutions, Cost Intelligence and Billing Engine, which provide comprehensive insights and control over cloud expenses. These tools help organizations optimize cloud spend, reduce waste, and improve financial accountability. The certification and new products enhance Spot by NetApp's holistic FinOps portfolio, aimed at maximizing cloud investments and driving business growth.

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NetApp (NASDAQ: NTAP), a leading data infrastructure company, has announced the appointment of Mike Sakalas as the Vice President of U.S. Enterprise Sales. Sakalas, who brings over two decades of IT industry experience, will report to Riccardo Di Blasio, SVP of North America Sales.

His role includes developing and executing NetApp's U.S. enterprise strategy and working closely with internal teams and partners to enhance customer engagements. Before joining NetApp, Sakalas held leadership roles at Pure Storage, EMC, and Southern Cross Computer Systems.

This strategic hire aims to drive aggressive growth and customer success in the U.S. market.

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NetApp (NASDAQ: NTAP), a leading intelligent data infrastructure company, announced it will host an investor day on June 11, 2024, in New York City from 8:30 a.m. to 11:45 a.m. Eastern Time. The event will be webcast live on NetApp's investor relations website. A replay will be available 24 hours after the event. Pre-registration is required for in-person attendance, and financial analysts and institutional investors interested in attending should contact Billie Fagenstrom for registration details.

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NetApp (NASDAQ: NTAP) is now the exclusive Intelligent Data Infrastructure partner for Porsche Motorsport. This partnership extends to the Team Porsche Penske Motorsport in the IMSA WeatherTech SportsCar Championship and the World Endurance Championship, as well as continuing support for the TAG Heuer Porsche Formula E Team. NetApp's technology enables Porsche Motorsport to access and analyze data in real time, enhancing race strategies and performance. Key technologies include Cloud Volumes ONTAP, BlueXP, and Cloud Backup. The collaboration has already contributed to four wins in the 2023-2024 Formula E season, positioning the team competitively.

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NetApp (NASDAQ: NTAP) reported its fourth quarter and fiscal year 2024 results, showcasing net revenues of $1.67 billion for Q4 and $6.27 billion for the fiscal year, reflecting a 1% year-over-year decrease. The company achieved record all-flash array annualized revenue run rate of $3.6 billion, a 17% increase. Fiscal year GAAP consolidated gross margins were 71%, non-GAAP margins at 72%, and GAAP net income per share at $4.63, with non-GAAP net income per share at $6.46. The company announced a new share repurchase authorization of $1 billion and increased its quarterly dividend to $0.52 per share.

In Q4, net revenues were $1.67 billion, up 6% year-over-year. GAAP net income was $291 million, and non-GAAP net income was $382 million. NetApp also reported cash, cash equivalents, and investments totaling $3.25 billion by the end of Q4. For fiscal year 2025, NetApp forecasts net revenues between $6.45 billion and $6.65 billion and GAAP earnings per share between $4.96 and $5.16.

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NetApp (NASDAQ: NTAP) has launched the new AFF A-Series all-flash storage systems, targeting demanding IT workloads including AI, VMware, and enterprise databases. These systems promise up to 2x better performance, 99.9999% data availability, and advanced ransomware protection. Alongside, NetApp introduced six new StorageGRID models designed to enhance value and reduce costs for large, unstructured data. NetApp also unveiled new cyber vault architecture, SnapMirror Active Sync for uninterrupted data center operations, and BlueXP Classification for enhanced data intelligence. These innovations align with NetApp's strategy to offer unified data storage solutions that integrate with major cloud providers.

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NetApp (NASDAQ: NTAP) and Lenovo announced the NetApp AIPod with Lenovo ThinkSystem servers for NVIDIA OVX, a converged infrastructure optimized for generative AI. This solution aims to simplify, accelerate, and reduce the cost of AI deployment for enterprises. It integrates NetApp's storage systems, Lenovo's reliable ThinkSystem SR675 V3 servers, and NVIDIA's AI Enterprise software, enabling AI RAG and inferencing operations. Key features include support for NVIDIA NIM inference microservices, hybrid cloud data management, and seamless integration into AI ecosystems. The product will be available by summer 2024.

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FAQ

What does NetApp, Inc. specialize in?

NetApp, Inc. specializes in hybrid cloud data services, data management, and storage solutions for enterprise environments.

What are the main segments of NetApp's business?

NetApp operates primarily in two segments: Hybrid Cloud and Public Cloud, with the Hybrid Cloud segment generating the majority of its revenue.

What is NetApp Astra?

NetApp Astra is an application-aware data management service designed to streamline operations and enhance data lifecycle management.

What kind of services does NetApp offer?

NetApp offers cloud data services, application-aware data management, strategic consulting, design, implementation, and migration services.

Where is NetApp, Inc. headquartered?

NetApp, Inc. is headquartered in Sunnyvale, California.

How does the Hybrid Cloud segment benefit customers?

The Hybrid Cloud segment provides storage management and infrastructure solutions that help customers modernize traditional data centers and leverage cloud capabilities.

What recent achievements has NetApp made?

Recent achievements include strategic partnerships with leading public cloud providers, product enhancements, and strong financial performance.

What type of clients does NetApp cater to?

NetApp caters to enterprise clients looking for robust data management and storage solutions across hybrid and public cloud environments.

How can I stay updated about NetApp's latest news?

For the latest updates and news about NetApp, visit the company’s official page or follow their news releases.

What makes NetApp a key player in the data management industry?

NetApp's commitment to innovation, customer-centric solutions, and strategic partnerships make it a key player in the data management and storage industry.

NetApp, Inc.

Nasdaq:NTAP

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26.79B
205.80M
0.41%
94.26%
2.51%
Computer Storage Device Manufacturing
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