NetApp Posts Record Q1, Boosts Fiscal 2027 Targets on AI Demand
NetApp shares rose as the company reported record Q1 revenue and EPS, guided Q2 above Street expectations, and raised fiscal 2027 targets to $7.975B–$8.225B revenue and $9.73–$10.03 EPS. A $150M buyback and positive analyst reactions supported the momentum, though investors are watching gross-margin and NAND/eSSD cost pressures and the risk that some AI storage demand was pulled forward.