In April 2026, Google Cloud announced with NetApp at Google Cloud Next that new Google Cloud NetApp Volumes innovations now let enterprises run applications, databases, and AI workloads in Google Cloud without rearchitecting their environments.
This collaboration highlights how NetApp is embedding itself deeper into hyperscale cloud ecosystems, potentially making its data infrastructure more central to customers’ AI adoption plans.
Next, we’ll examine how this deeper Google Cloud integration could influence NetApp’s investment narrative around AI-enabled, cloud-based data infrastructure.
Find 53 companies with promising cash flow potential yet trading below their fair value.
NetApp Investment Narrative Recap
To own NetApp, you need to believe its pivot toward AI-ready, cloud-based data services can more than offset pressure on legacy on premises storage and margins from hyperscaler partnerships. The new Google Cloud NetApp Volumes enhancements support this AI and hybrid cloud thesis, but they do not remove the near term risk that cloud partners capture more value as workloads keep shifting off traditional hardware.
Among recent announcements, the four year expanded collaboration with Google Cloud and the inclusion of NetApp’s data platform in Google Distributed Cloud stand out. Together with the new NetApp Volumes capabilities, they reinforce NetApp’s role in hybrid and sovereign AI infrastructure, directly tied to the company’s AI workload adoption catalyst, while still leaving execution and competitive pressure as key variables.
Yet investors should be aware that reliance on hyperscaler partnerships could compress margins over time and…
Read the full narrative on NetApp (it’s free!)
NetApp’s narrative projects $7.9 billion revenue and $1.5 billion earnings by 2029. This requires 5.5% yearly revenue growth and a $0.3 billion earnings increase from $1.2 billion today.
Uncover how NetApp’s forecasts yield a $117.13 fair value, a 5% upside to its current price.
Exploring Other Perspectives 
NTAP 1-Year Stock Price Chart
Three Simply Wall St Community fair value estimates for NetApp span roughly US$117 to US$179 per share, showing how far opinions can stretch. Set this against NetApp’s growing AI and cloud alliances, and it becomes even more important to compare different views on how those partnerships might influence future cash flows and competitive strength.
Explore 3 other fair value estimates on NetApp – why the stock might be worth just $117.13!
The Verdict Is Yours
Don’t just follow the ticker – dig into the data and build a conviction that’s truly your own.
A great starting point for your NetApp research is our analysis highlighting 5 key rewards that could impact your investment decision.
Our free NetApp research report provides a comprehensive fundamental analysis summarized in a single visual – the Snowflake – making it easy to evaluate NetApp’s overall financial health at a glance.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include NTAP.
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