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    Ari Terjanian

    Partner and Senior Research Analyst at Cleveland Research Company

    Ari Terjanian is a Partner and Senior Research Analyst at Cleveland Research Company, specializing in cloud and software sector research with a focus on leading enterprise technology vendors. He covers major companies including Microsoft, Amazon, Adobe, Oracle, Atlassian, NetApp, and Pure Storage, earning recognition for a consistent 100% success rate and an average return exceeding 40% on analyst recommendations, as demonstrated by TipRanks and other platforms. Terjanian began his career at iCIMS as a Corporate Development Intern and joined Cleveland Research after graduating from the Kelley School of Business at Indiana University with a Bachelor of Science in Finance, Business Economics, and Music. He holds professional credentials as a registered securities analyst, leveraging his expertise to deliver actionable insights for institutional clients.

    Ari Terjanian's questions to NetApp (NTAP) leadership

    Ari Terjanian's questions to NetApp (NTAP) leadership • Q1 2026

    Question

    Ari Terjanian of Cleveland Research Company asked for an update on the all-flash competitive landscape, noting a peer's strong results, and inquired about the customer take-rates of pricing actions taken last year.

    Answer

    CEO George Kurian acknowledged the competitive environment but stated NetApp saw no adverse competitive patterns during the quarter. He clarified that recent product gross margin pressure was due to year-over-year component cost increases, not new pricing actions, as they are in a 'wait and see' mode regarding tariffs. He expressed confidence that cost comparisons will become more benign through the year, helping margins recover.

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    Ari Terjanian's questions to NetApp (NTAP) leadership • Q1 2026

    Question

    Ari Terjanian of Cleveland Research Company requested an update on the all-flash competitive landscape, noting a peer's raised outlook, and asked about the customer take-rate of pricing actions implemented last year.

    Answer

    CEO George Kurian described the market as consistently competitive but noted no specific adverse trends in the quarter, attributing some performance differences to NetApp's higher exposure to weaker markets like the U.S. Public Sector. On pricing, he stated the company is in a 'wait and see' mode on tariffs and that recent gross margin pressure was from component cost increases, not pricing on new systems.

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    Ari Terjanian's questions to NetApp (NTAP) leadership • Q3 2025

    Question

    Ari Terjanian asked for an update on the market dynamics related to the Broadcom acquisition of VMware and the potential opportunities or challenges this creates for NetApp as customers evaluate new architectures.

    Answer

    CEO George Kurian stated that NetApp is well-positioned to support clients regardless of their path. The company offers solutions for customers who stay with VMware, those who re-platform to cloud or container-based architectures, and those who move to on-prem alternatives with partners like Microsoft and Red Hat. He believes NetApp has strong options for customers as the situation evolves.

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    Ari Terjanian's questions to NetApp (NTAP) leadership • Q2 2025

    Question

    Ari Terjanian asked for clarification on the recent surge in AI deals and whether there was any pull-forward of demand due to product pricing changes.

    Answer

    CEO George Kurian attributed the doubling of AI deals to broader engagement and execution by sales teams and partners over long sales cycles. CFO Mike Berry acknowledged some product pricing changes but stated there was no material pull-forward of customer demand as a result.

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    Ari Terjanian's questions to Pure Storage (PSTG) leadership

    Ari Terjanian's questions to Pure Storage (PSTG) leadership • Q4 2025

    Question

    Ari Terjanian of Cleveland Research Company asked about the decision to participate in the upcoming GTC conference and how Pure Storage plans to differentiate itself in the competitive AI training market.

    Answer

    CEO Charles Giancarlo explained that while the AI training market was traditionally HPC-oriented, Pure has made modifications to its product to address HPC performance characteristics within its existing R&D budget. He expressed confidence that the new capabilities to be unveiled will 'make a big splash.'

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