As the Q2 earnings season wraps, let’s dig into this quarter’s best and worst performers in the hardware & infrastructure industry, including NetApp (NASDAQ:NTAP) and its peers.
The Hardware & Infrastructure sector will be buoyed by demand related to AI adoption, cloud computing expansion, and the need for more efficient data storage and processing solutions. Companies with tech offerings such as servers, switches, and storage solutions are well-positioned in our new hybrid working and IT world. On the other hand, headwinds include ongoing supply chain disruptions, rising component costs, and intensifying competition from cloud-native and hyperscale providers reducing reliance on traditional hardware. Additionally, regulatory scrutiny over data sovereignty, cybersecurity standards, and environmental sustainability in hardware manufacturing could increase compliance costs.
The 9 hardware & infrastructure stocks we track reported an exceptional Q2. As a group, revenues beat analysts’ consensus estimates by 5.4% while next quarter’s revenue guidance was 16.7% above.
Thankfully, share prices of the companies have been resilient as they are up 5.7% on average since the latest earnings results.
NetApp (NASDAQ:NTAP)
Founded in 1992 as a pioneer in networked storage technology, NetApp (NASDAQ:NTAP) provides data storage and management solutions that help organizations store, protect, and optimize their data across on-premises data centers and public clouds.
NetApp reported revenues of $2.03 billion, up 29.9% year on year. This print exceeded analysts’ expectations by 10.2%. Overall, it was an incredible quarter for the company with an impressive beat of analysts’ billings estimates and a beat of analysts’ EPS estimates.
Interestingly, the stock is up 2.3% since reporting and currently trades at $184.93.
We think NetApp is a good business, but is it a buy today? Read our full report here, it’s free.
Everpure (NYSE:P)
Founded in 2009 as a pioneer in enterprise all-flash storage technology, Everpure (NYSE:P) provides all-flash data storage hardware and software that helps organizations manage their data more efficiently across on-premises and cloud environments.
Everpure reported revenues of $1.19 billion, up 37.7% year on year, outperforming analysts’ expectations by 7.7%. The business had an incredible quarter with an impressive beat of analysts’ billings estimates and a beat of analysts’ EPS estimates.
Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 7.2% since reporting. It currently trades at $101.05.
Is now the time to buy Everpure? Access our full analysis of the earnings results here, it’s free.
Weakest Q2: Diebold Nixdorf (NYSE:DBD)
With roots dating back to 1859 and a presence in over 100 countries, Diebold Nixdorf (NYSE:DBD) provides automated self-service technology, software, and services that help banks and retailers digitize their customer transactions.
Diebold Nixdorf reported revenues of $927.6 million, up 1.4% year on year, falling short of analysts’ expectations by 0.6%. It was a slower quarter as it posted full-year revenue guidance meeting analysts’ expectations and EPS in line with analysts’ estimates.
Diebold Nixdorf delivered the slowest revenue growth and weakest full-year guidance update among its peers. As expected, the stock is down 24.3% since the results and currently trades at $68.67.
Read our full analysis of Diebold Nixdorf’s results here.
Hewlett Packard Enterprise (NYSE:HPE)
Born from the 2015 split of the iconic Silicon Valley pioneer Hewlett-Packard, Hewlett Packard Enterprise (NYSE:HPE) provides edge-to-cloud technology solutions that help businesses capture, analyze, and act upon their data across hybrid IT environments.
Hewlett Packard Enterprise reported revenues of $12.21 billion, up 33.7% year on year. This result topped analysts’ expectations by 1.9%. Overall, it was a stunning quarter as it also logged a beat of analysts’ EPS estimates and a solid beat of analysts’ EPS guidance for next quarter estimates.
Hewlett Packard Enterprise had the weakest guidance update of the whole group. The stock is flat since reporting and currently trades at $52.11.
Read our full, actionable report on Hewlett Packard Enterprise here, it’s free.
Super Micro (NASDAQ:SMCI)
Founded in Silicon Valley in 1993 and known for its modular "building block" approach to server design, Super Micro Computer (NASDAQ:SMCI) designs and manufactures high-performance, energy-efficient server and storage systems for data centers, cloud computing, AI, and edge computing applications.
Super Micro reported revenues of $11.12 billion, up 93.2% year on year. This number came in 3.8% below analysts’ expectations. Aside from that, it was an exceptional quarter as it produced a beat of analysts’ EPS estimates and a solid beat of analysts’ EPS guidance for next quarter estimates.
Super Micro scored the highest guidance raise and highest full-year guidance raise, but had the weakest performance against analyst estimates in the group. The stock is up 25.1% since reporting and currently trades at $39.54.
Read our full, actionable report on Super Micro here, it’s free.
Market Update
Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.
Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.
By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.
Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.