NetApp shares fell almost 5% today as Bank of America analyst Wamsi Mohan downgraded the company, citing the potential for "challenged" product revenue growth in the coming months.
Analysts also pointed to the company's 8% workforce reduction already being in Q4 guidance, meaning it "will not be an incremental tailwind to current estimates."
https://seekingalpha.com/news/3958172-netapp-bofa-downgrades-challenged-product-revenue-growth?ref=biztoc.com
Below $60 soon. Expect more cost cutting first week of May.
Now, why would Google Amazon or Microsoft be interested in acquisition?
That’s a daydream. Hope others jump ship and a FAANG company acquire the sinking ship along with him.
Now, why would Google Amazon or Microsoft be interested in acquisition? It doesn't make any sense
Layoffs will continue until Google, Microsoft or Amazon acquire the company. That's the long-term end of the company. Commodity storage offerings aren't going to keep NetApp afloat with Pure out there absolutely kicking a-s.
Assume layoffs are a guarantee at this point. Not if, only when.
My best advice is to jump ship while you can. Easier to find a new job when you're employed. Or try to double dip for a while before leaving. Either way, find something new before the bean counters decide you aren't needed anymore.
The way I keep cool about these developments is to keep my head in the sand.
Oh shoot
Fears of recession, Al development is rapidly push us towards unemployment, demand crunch, greedy employers, greedy corporates, greedy managers, health issues, housing issue, G*n violence, gas prices, fear of war, racism, …….. gives us a break
Thanks for sharing.