Tim Long's questions to NetApp (NTAP) leadership • Q1 2026
Question
Tim Long of Barclays asked about NetApp's strategy to convert the remaining 55% of its installed base from hybrid to all-flash systems. He also inquired about the mid-to-long-term expectations for the rapidly growing Keystone storage-as-a-service offering.
Answer
CEO George Kurian explained that while NetApp has a high win rate in refreshing its installed base, a significant portion of its growth comes from winning new customers. He noted that hard-drive solutions remain relevant for backup and cold storage. Regarding Keystone, he highlighted its appeal to customers who prefer an as-a-service model, need a bridge for cloud transitions, or want to avoid upfront capital investment in competitive situations.