Sign in

    Krish Sankar

    Managing Director and Senior Research Analyst at TD Cowen

    Krish Sankar is a Managing Director and Senior Research Analyst at TD Cowen, specializing in the semiconductor capital equipment and IT hardware sectors. He covers key technology companies including Apple, Micron Technology, and Ichor Holdings, with standout metrics such as a 95% success rate and 39.64% average return on Apple calls over the past year, an overall average 15% annual return, and a 68% price target hit ratio across 26 stocks. Sankar began making public recommendations around 2017 and joined TD Cowen after prior analyst roles, rapidly building a reputation for sharp, data-driven insights in U.S. and U.K. technology markets. He holds professional credentials typical of senior Wall Street analysts including FINRA registrations and relevant securities licenses.

    Krish Sankar's questions to Dell Technologies (DELL) leadership

    Krish Sankar's questions to Dell Technologies (DELL) leadership • Q2 2026

    Question

    Krish Sankar from TD Cowen posed a two-part question, asking about the AI server mix between liquid and air cooling and its margin implications, and why the full-year EPS guidance was raised by a much smaller percentage than the revenue guidance.

    Answer

    Jeff Clarke, COO, answered that the AI backlog and pipeline are biased towards direct liquid cooling for large-scale deployments. CFO Yvonne McGill addressed the guidance question by explaining that the revenue increase is primarily driven by $5 billion in lower-margin AI servers, with a smaller contribution from the core business. She noted that the EPS lift is based on numerous drivers, including mix and operational efficiencies across the company.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to Dell Technologies (DELL) leadership • Q1 2026

    Question

    Krish Sankar of Cowen and Company followed up on the storage attach rate for AI. He asked if Dell sees private storage companies taking market share and whether it's necessary for Dell to be designed into the AI training phase to capture the subsequent AI inference business.

    Answer

    Jeff Clarke, Vice Chairman and COO, explained that training and inference are distinct use cases and Dell aims to win both. He emphasized the significant data consumption in enterprise inference workloads, creating a large storage opportunity. He highlighted Dell's focus on building out a portfolio of high-performance, disaggregated storage systems like PowerScale, ObjectScale, and Project Lightning, which he believes is the bridge to improving storage attach rates for AI workloads.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to NetApp (NTAP) leadership

    Krish Sankar's questions to NetApp (NTAP) leadership • Q1 2026

    Question

    Krish Sankar from TD Cowen inquired about the deceleration in all-flash revenue growth to 5% and the decline in product gross margins, asking if pricing, demand, or NAND costs were the primary drivers. He also asked for a long-term view on the architecture of enterprise AI deployments.

    Answer

    CFO Wissam Jabre attributed the all-flash revenue slowdown to anticipated softness in the U.S. Public Sector and EMEA, which was offset by strength in the Americas. He explained that the year-over-year product gross margin decline was predominantly due to higher flash costs and projected that margins would improve going forward. CEO George Kurian detailed that recent AI wins fell into three categories: data lakes (20%), model training/fine-tuning (45%), and Retrieval-Augmented Generation (RAG) use cases, noting that the latter two typically utilize all-flash storage.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to NetApp (NTAP) leadership • Q1 2026

    Question

    Krish Sankar from TD Cowen inquired about the deceleration in all-flash revenue growth to 5%, questioning if it was due to pricing or demand. He also asked about the decline in product gross margins and the outlook for enterprise AI adoption architectures.

    Answer

    CFO Wissam Jabre explained the all-flash revenue slowdown was anticipated due to softness in the U.S. Public Sector and EMEA, but he expects this trend to not continue. He attributed the year-over-year product gross margin decline primarily to higher NAND costs, stating Q1 was the low point and margins should improve. CEO George Kurian detailed that AI wins were split between data lakes (20%), model training (45%), and RAG/inferencing use cases, which typically utilize all-flash storage.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to NetApp (NTAP) leadership • Q4 2025

    Question

    Krish Sankar from TD Cowen asked about the dynamics of the non-all-flash (hard drive) portion of the hybrid cloud business. He also inquired about the implied product gross margin within the FY26 guidance and requested an update on NetApp's public sector exposure.

    Answer

    CEO George Kurian explained that the hard drive segment has declined as flash replaces performance drives and expects it to stabilize at a lower level for use cases like backup and archival. CFO Wissam Jabre reiterated that Q1 product gross margin will be flat to Q4 before improving quarterly, but did not provide a specific full-year figure. George Kurian stated that the US public sector represents a low-teens percentage of business, with federal comprising 75-80% of that.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to NetApp (NTAP) leadership • Q4 2025

    Question

    Krish Sankar from TD Cowen inquired about the business dynamics of the non-all-flash (hard drive-based) segment. He also asked for the implied product gross margin within the full-year fiscal 2026 guidance and for an update on NetApp's public sector revenue exposure.

    Answer

    CEO George Kurian explained that the hard drive segment continues to decline as flash replaces performance tiers but will eventually stabilize for use cases like backup and archival. CFO Wissam Jabre reiterated that Q1 product gross margin will be flat to Q4 with gradual improvement thereafter. George Kurian specified that the US public sector represents a low-teens percentage of revenue, with federal business comprising 75-80% of that.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to NetApp (NTAP) leadership • Q4 2025

    Question

    Krish Sankar from TD Cowen inquired about the dynamics of the non-all-flash (hard drive) portion of the business, asking if it's in secular decline. He also asked for the implied product gross margin within the FY26 guidance and the company's current public sector exposure.

    Answer

    CEO George Kurian explained that the hard drive segment has declined as flash replaces high-performance drives and expects it to stabilize at a smaller number, primarily serving backup and archival use cases. He also noted that US public sector exposure is in the low teens percentage of revenue. CFO Wissam Jabre reiterated that Q1 product gross margin would be flattish with Q4, with gradual improvement expected thereafter, but did not provide a specific full-year target for the sub-segment.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to Sandisk (SNDK) leadership

    Krish Sankar's questions to Sandisk (SNDK) leadership • Q4 2025

    Question

    Representing Krish Sankar of TD Cowen, an analyst asked about SanDisk's exposure to the China mobile market in light of a competitor's reported exit and questioned which end market drove the upside in Q4 bit shipments.

    Answer

    CEO David Goeckeler affirmed that China remains an attractive and important market for SanDisk. CFO Luis Visoso added that the Q4 bit shipment outperformance was broad-based across the entire product portfolio, not concentrated in a single end market.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to APPLIED MATERIALS INC /DE (AMAT) leadership

    Krish Sankar's questions to APPLIED MATERIALS INC /DE (AMAT) leadership • Q3 2025

    Question

    Krish Sankar asked for clarification on whether China sales were pushed from Q2 to Q3 and questioned how much of the Q4 China weakness is due to the licensing assumption, as well as the potential revenue upside if licenses are approved.

    Answer

    CFO Brice Hill confirmed that the higher Q3 China revenue was not a push from Q2, stating that the Q2 and Q4 levels are more indicative of the expected run-rate. He emphasized that investors should not expect immediate upside to the Q4 outlook even if licenses are approved, as it would take time to plan and build the equipment. He declined to quantify the license backlog.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to SYNAPTICS (SYNA) leadership

    Krish Sankar's questions to SYNAPTICS (SYNA) leadership • Q4 2025

    Question

    Krish Sankar of TD Cowen questioned the sustainability of the recovery in the enterprise segment given tepid IT spending and asked about expectations for December and March revenue trends and seasonality. He also inquired about Synaptics' potential to pursue the industrial IoT market.

    Answer

    SVP & CFO Ken Rizvi noted healthy visibility for the September quarter and building visibility for December, while acknowledging that the March quarter typically sees some seasonality. President & CEO Rahul Patel addressed the industrial IoT question, explaining that Synaptics' platforms, particularly its processors and mixed-signal capabilities, are designed to scale across a wide landscape from consumer to industrial applications like factory control and EV charging.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to MKS (MKSI) leadership

    Krish Sankar's questions to MKS (MKSI) leadership • Q2 2025

    Question

    Krish Sankar from TD Cowen inquired about the semiconductor revenue outlook beyond Q3, particularly the sustainability of outperformance versus WFE given NAND lumpiness, and whether the strength in the PCB business was driven by smartphone-related pull-ins.

    Answer

    President and CEO John Lee explained that the base WFE portfolio is growing faster than the market, with the NAND upgrade cycle acting as a lumpy overlay that can cause quarterly fluctuations. He also noted that any pull-in for the PCB business was minimal, with strength in Q2 and the Q3 outlook being driven primarily by AI applications for both equipment and chemistry.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to KULICKE & SOFFA INDUSTRIES (KLIC) leadership

    Krish Sankar's questions to KULICKE & SOFFA INDUSTRIES (KLIC) leadership • Q3 2025

    Question

    Krish Sankar of TD Cowen asked about the revenue outlook for fiscal 2026, questioning if revenue would remain near the $170 million level. He also inquired about the impact of Intel's CapEx cuts on the fluxless TCB business and sought details on the planned TCB system shipment for HBM applications by the end of calendar year 2025.

    Answer

    President & CEO Fusen Chen projected that fiscal 2026 revenue would be flattish compared to 2025, supported by healthy industry utilization and new product growth in areas like clip attach, advanced dispense, and TCB. Regarding Intel, he confirmed that while engagement remains healthy, revenue from them would be down year-over-year. For HBM, Chen stated that a TCB system is expected to ship to one of two key customers by the end of calendar year 2025 to support the industry's transition to fluxless processes.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to KULICKE & SOFFA INDUSTRIES (KLIC) leadership • Q3 2025

    Question

    Krish Sankar of TD Cowen inquired about the fiscal 2026 revenue outlook, the potential impact of Intel's capital expenditure cuts on the fluxless bonding business, and specifics regarding the upcoming Thermal Compression Bonding (TCB) system shipment for High Bandwidth Memory (HBM).

    Answer

    President and CEO Fusen Chen projected that fiscal 2026 revenue would be flattish compared to 2025, supported by healthy industry utilization and new product growth. While acknowledging a revenue decline related to Intel, he noted that customer engagement remains healthy. For HBM, Chen confirmed a TCB system shipment is planned for the end of calendar year 2025 to one of two key customers for the next-generation, fluxless HBM.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to KULICKE & SOFFA INDUSTRIES (KLIC) leadership • Q3 2025

    Question

    Krish Sankar of TD Cowen asked for clarity on the fiscal 2026 revenue outlook, the potential impact of Intel's capital expenditure cuts on the fluxless TCB business, and details about the upcoming TCB system shipment for HBM applications.

    Answer

    President & CEO Fusen Chen projected that fiscal 2026 revenue would be 'flattish' compared to 2025, supported by high industry utilization and new product growth, despite typical seasonality. Regarding Intel, he acknowledged that revenue would be down from the prior year but noted that customer engagement remains healthy. For HBM, Chen confirmed they are working with two customers and plan to ship an initial system to one of them by the end of calendar year 2025 for the upcoming fluxless transition.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to SKYWORKS SOLUTIONS (SWKS) leadership

    Krish Sankar's questions to SKYWORKS SOLUTIONS (SWKS) leadership • Q3 2025

    Question

    Krish Sankar from TD Cowen asked about the current size and growth potential of the automotive business, the relative visibility into its largest customer versus Android, and the outlook for operating expenses into next year.

    Answer

    VP of Investor Relations Rajvindra Gill reported that the automotive business is now tracking at approximately $60 million per quarter with significant year-over-year growth. CEO Philip Brace stated that visibility is currently strong across the board with no material difference between customer segments. He also reiterated a disciplined approach to OpEx, expecting only nominal growth targeted at core R&D.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to ADVANCED ENERGY INDUSTRIES (AEIS) leadership

    Krish Sankar's questions to ADVANCED ENERGY INDUSTRIES (AEIS) leadership • Q2 2025

    Question

    Krish Sankar of TD Cowen asked about the sustainability of Advanced Energy's high data center revenue run rate, questioning if it's a structural change driven by AI or related to market share gains.

    Answer

    President and CEO Steve Kelley confirmed that the current data center revenue level is sustainable into 2026. He attributed this to high, ongoing investment rates by hyperscalers, the increasing power needs of new GPUs which drives content growth, and AE's strong design win rate. He also highlighted the company's willingness to invest in factory capacity to support this demand.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to GLOBALFOUNDRIES (GFS) leadership

    Krish Sankar's questions to GLOBALFOUNDRIES (GFS) leadership • Q2 2025

    Question

    Krish Sankar of TD Cowen asked about the MIPS acquisition, specifically regarding RISC-V demand trends between Asia and Western companies. He also inquired about the 'China for China' strategy, asking for the partner's identity, margin profile, and details on IP protection.

    Answer

    CEO Tim Breen described RISC-V demand as a global phenomenon with strong interest across Asia, Europe, and the U.S. Regarding the China strategy, he stated they are not disclosing the partner, referring to the initiative as 'GF China.' He assured that the margin profile is in line with corporate averages and that robust IP protection controls, vetted by automotive-grade customers, are in place.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to ICHOR HOLDINGS (ICHR) leadership

    Krish Sankar's questions to ICHOR HOLDINGS (ICHR) leadership • Q2 2025

    Question

    Krish Sankar inquired about the primary sources of demand for Q3 and the second half, given the noted weakness in EUV and from a major US manufacturer. He also asked about broader gross margin pressures, such as customer pricing, beyond the immediate operational challenges.

    Answer

    CEO Jeffrey Andreson identified foundry logic, high-bandwidth memory, and continued NAND investment as the key demand drivers. He stated that the primary headwind to gross margin is the inability to fully ramp internal component supply to meet demand, rather than significant changes in customer pricing pressure. He added that tariff impacts are now better understood and are being passed on.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to Apple (AAPL) leadership

    Krish Sankar's questions to Apple (AAPL) leadership • Q3 2025

    Question

    Krish Sankar asked if there was a pull-in of iPhone demand during the June quarter and inquired about channel inventory levels for June and September relative to seasonal norms. He also posed a long-term question about the future of AI on edge devices, asking if LLMs could become a commodity and if the smartphone will remain the dominant device.

    Answer

    SVP & CFO Kevan Parekh confirmed an estimated one-point demand pull-ahead at the total company level due to tariff discussions in April. CEO Tim Cook added that iPhone channel inventory was reduced during the quarter and ended at the low end of the target range. Regarding AI, Cook described it as one of the most profound technologies of our lifetime that will affect all devices, but declined to comment on strategy specifics like commoditization.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to LAM RESEARCH (LRCX) leadership

    Krish Sankar's questions to LAM RESEARCH (LRCX) leadership • Q4 2025

    Question

    Krish Sankar of TD Cowen sought clarification on the growth of multinational customers in China and asked whether all tool decisions for 2-nanometer gate-all-around have been finalized at leading foundries.

    Answer

    EVP and CFO Doug Bittinger confirmed that spending from global multinationals in China grew over 90% quarter-over-quarter but did not attribute it to a specific reason. President and CEO Timothy Archer, without commenting on specific customer timing, stated that Lam is already focused on inflections beyond 2-nanometer, such as Moly adoption and dry resist, where the company is well-engaged with customers.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to LAM RESEARCH (LRCX) leadership • Q2 2025

    Question

    Krish Sankar asked for clarification on the significant growth from multinational customers in China and whether tool decisions for 2-nanometer gate-all-around (GAA) are already finalized at leading foundries.

    Answer

    EVP and CFO Douglas Bittinger confirmed a greater than 90% sequential spending increase from global multinationals in China but did not specify a reason. President and CEO Timothy Archer stated that while not commenting on specific customer decisions, Lam is already deeply engaged in inflections beyond 2nm, such as Moly adoption and dry resist, positioning the company for future nodes.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to TERADYNE (TER) leadership

    Krish Sankar's questions to TERADYNE (TER) leadership • Q2 2025

    Question

    Krish Sankar of TD Cowen asked if the GPU test opportunity was aided by the networking business or a direct value proposition, and about potential share gains in ASICs. He also sought to size the robotics win in terms of units and clarify if Teradyne was supplying peripherals beyond the robotic arm.

    Answer

    President & CEO Greg Smith clarified the GPU opportunity is not yet a 'win' but an opportunity to compete, aided by their reputation with the customer in other segments. He noted their focus is on proving value to OSATs, foundries, and hyperscalers. For the robotics win, he declined to provide unit numbers but specified Teradyne is providing the arm and software platform, while the end customer handles end-of-arm tooling and vision systems.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to Qorvo (QRVO) leadership

    Krish Sankar's questions to Qorvo (QRVO) leadership • Q1 2026

    Question

    Krish Sankar sought clarification on the timing of inventory pull-ins and asked about the long-term implications of edge AI on smartphone RF content, specifically regarding uplink MIMO and the adoption of Power Class 2.

    Answer

    SVP & CFO Grant Brown and SVP of Sales and Marketing Dave Fullwood clarified that the estimated $15-30 million inventory buffer is related to components, not finished goods, and is already factored into guidance. Regarding AI, SVP & President of Advanced Cellular, Frank Stewart, agreed that trends associated with 5G-Advanced will continue to drive the need for more complex RF solutions, including additional RF paths and expanded use of higher power levels (Power Class 2), consistent with the company's previous Analyst Day commentary.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to Ultra Clean Holdings (UCTT) leadership

    Krish Sankar's questions to Ultra Clean Holdings (UCTT) leadership • Q2 2025

    Question

    Krish Sankar of TD Cowen inquired about the potential risk to UCTT's China revenue from new AI-related rules and the sustainability of its current run rate. He also asked for an update on a previously mentioned European customer issue. In a follow-up, he pressed further on the risk of China revenue going to zero and questioned the state of customer inventory levels.

    Answer

    Chairman & Interim CEO Clarence Granger expressed confidence in the China business, noting it's a "China for China" strategy without direct tariff implications and that customer relationships are strong. He confirmed the European customer issue was resolved. Answering as Cheryl, VP of Marketing Cheryl Kneffler added that the products sold in China are broadly supported, mitigating risk. On inventory, she stated that while some remains, the situation has significantly improved, with the largest customer working down stock.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to ASML HOLDING (ASML) leadership

    Krish Sankar's questions to ASML HOLDING (ASML) leadership • Q2 2025

    Question

    Krish Sankar of TD Cowen asked what quarterly bookings run rate would be needed for ASML to gain conviction in 2026 growth. He also requested a breakdown of Q2 EUV bookings between logic and DRAM, and the shipment timing for the DUV orders booked in the quarter.

    Answer

    EVP & CFO Roger Dassen declined to provide a target bookings run rate for 2026, stating it would be an indirect form of guidance and that bookings are too lumpy to be a reliable short-term indicator. He disclosed that Q2 EUV bookings were skewed towards logic and that ASML is now virtually fully booked for DUV systems for 2025, with the balance of new orders shipping in 2026.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to MICRON TECHNOLOGY (MU) leadership

    Krish Sankar's questions to MICRON TECHNOLOGY (MU) leadership • Q3 2025

    Question

    Speaking on behalf of Krish Sankar, an analyst asked why Micron was not providing specific 2026 HBM guidance, unlike its approach to 2025 last year, and questioned when the company expects to get clarity on 2026 customer demand.

    Answer

    EVP and Chief Business Officer Sumit Sadana explained that Micron is now a scaled, trusted HBM supplier with deep customer engagements for HBM4 and HBM4E. He noted that customers are still finalizing their complex 2026 platform transition timelines, which involve shifts from 8-high to 12-high HBM3E and the adoption of HBM4. As these plans solidify, agreements will fall into place, and Micron is confident in its HBM business trajectory.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to MICRON TECHNOLOGY (MU) leadership • Q3 2025

    Question

    An analyst on behalf of Krish Sankar from TD Cowen asked why Micron was not providing 2026 HBM guidance at this time, unlike their approach for 2025 last year, and questioned when they expect to gain clarity on 2026 customer demand.

    Answer

    EVP and Chief Business Officer Sumit Sadana explained that Micron is now an established, large-scale HBM supplier, unlike last year when it was still ramping. He noted that customers are still finalizing complex 2026 platform transition plans (e.g., HBM3E to HBM4), which dictates their purchasing mix. He expressed confidence in Micron's position and deep customer engagements for future HBM roadmaps.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to MICRON TECHNOLOGY (MU) leadership • Q3 2025

    Question

    Krish Sankar from TD Cowen asked about the expected die trade ratio for HBM4 and whether there is a difference in the margin profile for HBM sold to GPU versus ASIC customers.

    Answer

    Chairman, President & CEO Sanjay Mehrotra stated that the HBM4 trade ratio is greater than three, compared to approximately three for HBM3E, and will trend towards four with HBM4E. This increasing ratio puts pressure on non-HBM DRAM supply. Regarding margins, he explained that HBM commands high value in both GPU and ASIC-based accelerators and its value is growing, but did not provide a specific margin differentiation between the two customer types.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to FORMFACTOR (FORM) leadership

    Krish Sankar's questions to FORMFACTOR (FORM) leadership • Q1 2025

    Question

    Hadi Orabi, on behalf of Krish Sankar from TD Cowen, asked for the potential worst-case margin impact from tariffs in September and whether new customer fab openings historically drive increased HBM probe card demand.

    Answer

    CFO Shai Shahar stated it's too early to speculate on future tariff impacts beyond the guided 1% headwind for Q2. CEO Mike Slessor explained that new fabs for additional capacity (not replacement) do drive incremental probe card demand, but typically with a 2-3 quarter lag before significant orders materialize.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to Rigetti Computing (RGTI) leadership

    Krish Sankar's questions to Rigetti Computing (RGTI) leadership • Q4 2024

    Question

    On behalf of Krish Sankar, an analyst from TD Cowen asked about the long-term scalability of Rigetti's modular tile architecture, including potential physical limitations and whether the target for a 2x reduction in error rates could be outperformed. A follow-up question concerned the accounting treatment of the company's $100 million investment commitment under the Quanta collaboration, specifically whether it would impact OpEx or CapEx.

    Answer

    CEO Subodh Kulkarni detailed the company's roadmap, emphasizing that the chiplet (tiling) approach is the key strategy for scaling to thousands of qubits, leveraging proven semiconductor industry methods to overcome the limitations of monolithic chips. He expressed confidence in the scaling path and the error rate reduction target. CFO Jeffrey Bertelsen clarified that Rigetti's $100 million commitment is a continuation of its existing R&D efforts and will flow through operating expenses (OpEx), not representing a new or separate capital expenditure.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to Rigetti Computing (RGTI) leadership • Q3 2024

    Question

    Speaking on behalf of Krish Sankar, an analyst asked about the next development milestones with Riverlane on quantum error correction (QEC), how the work with NVIDIA and Quantum Machines at IQCC relates to the QEC efforts, and the outlook for quarterly operating expenses.

    Answer

    CEO Subodh Kulkarni clarified that the NVIDIA/IQCC collaboration is focused on the fundamental QPU-GPU interface for hybrid computing, which highlights the speed advantage of superconducting qubits. The work with Riverlane is a distinct, parallel effort focused on the complex software layers of QEC. CFO Jeffrey Bertelsen added that he expects operating expenses to remain in line or only slightly higher than recent quarters, without a significant increase.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to Pure Storage (PSTG) leadership

    Krish Sankar's questions to Pure Storage (PSTG) leadership • Q4 2025

    Question

    Krish Sankar of TD Cowen questioned the decline in the RPO growth rate from around 30% a year ago to 14% in the current quarter, asking about the underlying causes and implications for the core business.

    Answer

    CFO Kevan Krysler explained the RPO slowdown is a direct result of the year-over-year decline in Evergreen//One TCV sales for FY25. He highlighted the return to 20% growth for Evergreen//One in Q4 as a positive sign and noted that growth in this offering is factored into the FY26 revenue guide.

    Ask Fintool Equity Research AI

    Krish Sankar's questions to HP (HPQ) leadership

    Krish Sankar's questions to HP (HPQ) leadership • Q4 2024

    Question

    Krish Sankar of TD Cowen requested the specific definition of an "AI PC" and its impact on bill of materials (BOM) cost. He also asked about the time lag for seeing benefits from declining commodity costs, such as memory.

    Answer

    CEO Enrique Lores explained the 15% figure uses the IDC definition of a PC with an NPU. He emphasized HP's focus is on "next-gen AI PCs" with >40 TOPS NPUs. Regarding costs, he stated commodity cost pressure is expected through the first half of FY25, with mitigation from repricing and cost actions taking effect in the second half. CFO Karen Parkhill added that strategic buys helped initially, and now the focus is on repricing, which takes time.

    Ask Fintool Equity Research AI