NetApp Inc. projects revenue between $7.325 billion and $7.575 billion for fiscal year 2027, driven by strong enterprise AI demand [1].
This forecast signals a shift in how data storage companies are capitalizing on the artificial intelligence boom. As corporations move from experimenting with AI to deploying it at scale, the demand for the high-performance infrastructure NetApp provides has increased.
CEO George Kurian said the outlook follows a period of significant growth. "FY '26 was a landmark year for NetApp with record results across revenue, gross profit," Kurian said [1].
According to the company's Q4 FY2026 earnings call, NetApp reported revenue of $1.95 billion for the fourth quarter [2]. The company also reported a non-GAAP earnings per share of $2.43 for the full fiscal year 2026 [2].
Management expects a revenue growth guidance of eight percent for the upcoming fiscal year [2]. The company attributes this trajectory to the acceleration of cloud demand, and the integration of AI within enterprise environments [1].
NetApp's strategy focuses on bridging the gap between traditional on-premises storage and cloud-based AI workloads. This hybrid approach allows businesses to manage massive datasets required for training large language models while maintaining data security, a key requirement for regulated industries.
The company's financial performance in FY2026 serves as the baseline for these projections. By achieving record results in revenue and gross profit, the firm aims to leverage its existing market position to capture more of the AI-driven infrastructure spend [1].
“FY '26 was a landmark year for NetApp with record results across revenue, gross profit”
NetApp's projections reflect a broader trend where hardware and storage providers are becoming primary beneficiaries of the AI cycle. While much of the early AI investment focused on chips, the next phase requires the massive data management systems necessary to feed those chips. A growth target of eight percent suggests a steady, scalable expansion rather than volatile spikes, indicating that enterprise AI adoption is becoming a predictable revenue stream.
