11 Best Computer Hardware Stocks to Invest in Right Now

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7. NetApp, Inc. (NASDAQ:NTAP)

Number of Hedge Fund Holders: 38

NetApp, Inc. (NASDAQ:NTAP) is a prominent player in the computer hardware and data management industry. It specializes in unified data storage solutions, integrated data services, and cloud operations (CloudOps). In addition to cloud data services designed to enhance data management across different platforms, the company manufactures and sells all-flash and hybrid arrays, which are high-performance storage systems optimized for speed and efficiency.

The company has been working on enhancing its storage system products portfolio. During the second quarter of fiscal 2025 results, NetApp, Inc. (NASDAQ:NTAP) announced that it has launched new all-flash ASA A-Series storage systems, and new midrange and high-end FAS hybrid flash storage arrays. These new products provide powerful high-end capabilities but are affordable and enable a secure cyber vault for recovery from ransomware attacks.

According to the CEO, George Kurian, the recent quarter was record-breaking for all-flash storage systems as its All-flash array annual recurring revenue improved 19% year-over-year to an all-time high of $3.8 billion. As a result, its GAAP net income improved substantially to $299 million from $233 million in the second quarter of fiscal year 2024. Management remains confident as they are already closing deals for its all-flash storage systems across various regions and with its pipeline growing the prospects remain bright. It is one of the best computer hardware stocks to invest in now.

Artisan Mid Cap Value Fund stated the following regarding NetApp, Inc. (NASDAQ:NTAP) in its Q3 2024 investor letter:

“With regard to sales, we exited NetApp, Inc. (NASDAQ:NTAP), an enterprise data storage and solutions company. Shares had moved into the higher end of our range of fair value on strong earnings results and enthusiasm about the long-term growth potential from artificial intelligence for the company’s storage solutions.”

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