The CEO of NetApp, George Kurian, said the company is preparing for “a variety of difficult outcomes” amid growing market uncertainty, caused in part by the US-China trade tensions.
He said the company is seeing more caution in enterprise IT spending and he does not expect the trade dispute to be resolved within the year.
But NetApp posted better-than-expected results that pushed its stock higher.
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NetApp CEO George Kurian had reason to be upbeat on Wednesday when his company reported quarterly results that cheered Wall Street, sparking a late rally in the tech company’s shares.
But while the report beat expectations, and Kurian could point to signs that the data storage company was adapting to a changing enterprise market, he also warned of a hazy road ahead.
Major enterprises had grown more cautious on IT spending amid growing economic uncertainty, which has been aggravated by the US-China trade war.
“We have taken a variety of difficult scenarios into account,” Kurian told Business Insider in an interview. “I don’t want to predict the worst case outcomes, but we have taken a variety of difficult outcomes into account.”
A key concern is still the raging trade dispute between the US and …read more
Source:: Businessinsider – Finance