NetApp forecasts annual revenue below estimate on weak data storage demand

NetApp forecast fiscal 2026 revenue below Wall Street expectations on Thursday, hit by sluggish spending on its cloud data storage services as enterprises cut budgets amid economic uncertainty, sending its shares down 5% in extended trading.

Macroeconomic volatility stemming from a global trade war and tariff threats have prompted enterprises to keep a tight leash on spending, impacting demand for cloud storage and data processing services provided by companies such as NetApp.

NetApp helps businesses improve the efficiency of their data storage…