NetApp Inc Q4 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Samik Chatterjee - JPMorgan Chase & Co, Research Division - Analyst : I guess for the first one. If I sort of -- you reiterated a few times you're really not baking in any macro improvement to the guide, but you did highlight the opportunity to get back to revenue growth in the second half. Just wondering if you can help us think through both of those pieces, particularly when I sort of put them against each other, it does look like you're calling for more of a share gain than revenue rebound in the second half of the -- what sort of drives confidence in this sort of a sequential ramp in revenue through the year? And is there more to it than sort of share gain? And I have a quick follow-up. .

Question: Samik Chatterjee - JPMorgan Chase & Co, Research Division - Analyst : Okay. Got it. On the cloud business, the growth expectations that you have for fiscal '24. Can you just outline how you're thinking about sort of retention business versus new business wins? And also curious if you obviously highlighted the AI opportunity, but do you see that opportunity on the cloud revenue side as well?

Question: David Vogt - UBS Investment Bank, Research Division - Analyst : So maybe this is a question for both George and Mike. When you think about sort of the product innovation engine and the new all-flash offerings versus sort of keeping your OpEx flat going forward, how should we think about sort of what you need to invest in the business as theoretically, there should be sort of a pretty steep growth rate in storage demand by some of your customers over the next couple of years? And then maybe as a quick follow-up. When you think about AI and what it means maybe for your business, how do you think about productivity gains and the uses of those productivity gains within NetApp. So does that flow through? Or is that reinvested into the business, whether it's go-to-market channels? I'm just trying to get a sense for how you think about what the benefit for AI would look like for you over the next couple of years as well? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 31, 2023 / 9:30PM, NTAP.OQ - Q4 2023 NetApp Inc Earnings Call