AI demand lifts HPE and NetApp to record quarters, but investors sell both
AI demand hit record highs for HPE and NetApp—but Wall Street sold anyway. What the market knows that earnings don't.
Why it matters
Strong AI-driven quarterly results from infrastructure vendors signal robust compute/storage buildout, but stock reactions reveal investor skepticism about sustainability or valuation. A tell on where the market thinks AI capex is heading.
The key facts
12 to knowHPE adjusted EPS $1.11, beat expectations, raised full-year outlook
NetApp also beat and raised guidance
Both companies reported record quarters driven by AI demand
Both stocks fell in late trading despite earnings beats
Fiscal Q3 ended July 31, 2026
Positive AI demand narrative; negative market reaction suggests concerns about forward growth or valuation
HPE adjusted earnings: $1.11 per share for fiscal Q3 (ended July 31)
Both HPE and NetApp beat Wall Street expectations
Both companies raised full-year outlooks
Stock prices fell in late trading despite earnings beats
Driver: AI demand for compute, storage, and networking infrastructure
Timing: September 2, 2026 — recent earnings season
Go to the source
SiliconAnglesiliconangle.com
Publisher excerpt: Shares of Hewlett Packard Enterprise Co. and NetApp Inc. both fell in late trading today despite the two compute, storage and networking companies beating Wall Street expectations for their July quarters and raising their full-year outlooks. For its fiscal third quarter, which ended on July 31, HPE…