Brokerage says NetApp’s quarterly product revenue is poised to show Q/Q improvement with Y/Y growth resumption by mid-CY24 driven by increased demand in the SAN market.
Forecasts FY25/26 EPS of $6.44/$7.16.
“Recovery in product rev is expected to gain momentum in 2024 as trained models that are currently in the public cloud migrate to on-prem/Edge for inferencing due to increased security/compliance/IP requirements,” analyst Mehdi Hossein writes.