Re: I'm really surprised
any growth in a shrinking HW market is notable, you need to take share to do that.
they also reported more than $150M of ARR cloud revenue for the quarter. This is all being resold via the hyperscalers without NetApp having to build their own. Cloud company valuations are not uncommon to be 25X rev. If or when NetApp gets to $1B ARR cloud revenue the stock will be orders of magnitude of what it is now. EMC is a mess with their new lift and shift line up and Pure has yet to make money after 10 years in business. Every HW company has a cloud story but how many of them have solutions with revenue to prove it? It's still an IF on whether they can make the cloud transition but they are way ahead of their competition and accelerating.