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Nutanix Up as Google Denies Hyperconvergence Entry Reports
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Shares of Nutanix (NTNX - Free Report) gained 6.9% to close at $49.65 on Sep 18, after falling 11.6% to close at $46.43 on Sep 17.
Nutanix stock had faltered on reports of Alphabet (GOOGL - Free Report) owned Google Cloud Platform’s foray into thehyper-converged market with a custom-designed computer. However, Google’s denial of the reports led to a rebound in Nutanix shares on Tuesday.
Google was quoted by MarketWatch saying that, "We value our partnerships highly and can also confirm that we are not competing with our partners in this area."
Nutanix and Google parent Alphabet entered into a partnership back in June 2017.Nutanix's specialty in hyper-converged technology was one of the key factors that attracted Alphabet.
The partnership reflected Alphabet’s desire to increase its offerings in the public cloud, a space where it competes with the likes of Amazon’s (AMZN - Free Report) Web Services and Microsoft’s (MSFT - Free Report) Azure.
Despite being a pretty late entrant in the cloud market, Google’s strategies to put up a strong fight against competitors is impressive.Per a report by Synergy Research Group, at the end of 2017, though Amazon managed to maintain its leadership in the cloud market, its growth rate was 0.5% compared with Google’s 1%.
Meanwhile, Nutanix demonstrated extraordinary success in inking partnerships and license agreements with not only Google but also other established players like Cisco, Hewlett Packard, Amazon and IBM.
Nutanix launched Xi Cloud Services in strategic partnership with Google.The company also teamed up with Google to fuse cloud environments for enterprise apps and deliver Xi from Google Cloud Platform datacenters.
Nutanix is also anticipated to continue partnering with Google on its Xi disaster recovery-as-a-service product, which is likely to be available later this year.
We believe that Nutanix's robust product portfolio aided by the new offerings will continue to boost its clientele. Nutanix added 1,000 customers, takingtotal end-customer count to 10,610 in the last reported quarter.
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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Nutanix Up as Google Denies Hyperconvergence Entry Reports
Shares of Nutanix (NTNX - Free Report) gained 6.9% to close at $49.65 on Sep 18, after falling 11.6% to close at $46.43 on Sep 17.
Nutanix stock had faltered on reports of Alphabet (GOOGL - Free Report) owned Google Cloud Platform’s foray into thehyper-converged market with a custom-designed computer. However, Google’s denial of the reports led to a rebound in Nutanix shares on Tuesday.
Google was quoted by MarketWatch saying that, "We value our partnerships highly and can also confirm that we are not competing with our partners in this area."
Nutanix Inc. Price
Nutanix Inc. Price | Nutanix Inc. Quote
Why is the Partnership Important?
Nutanix and Google parent Alphabet entered into a partnership back in June 2017.Nutanix's specialty in hyper-converged technology was one of the key factors that attracted Alphabet.
The partnership reflected Alphabet’s desire to increase its offerings in the public cloud, a space where it competes with the likes of Amazon’s (AMZN - Free Report) Web Services and Microsoft’s (MSFT - Free Report) Azure.
Despite being a pretty late entrant in the cloud market, Google’s strategies to put up a strong fight against competitors is impressive.Per a report by Synergy Research Group, at the end of 2017, though Amazon managed to maintain its leadership in the cloud market, its growth rate was 0.5% compared with Google’s 1%.
Meanwhile, Nutanix demonstrated extraordinary success in inking partnerships and license agreements with not only Google but also other established players like Cisco, Hewlett Packard, Amazon and IBM.
Nutanix launched Xi Cloud Services in strategic partnership with Google.The company also teamed up with Google to fuse cloud environments for enterprise apps and deliver Xi from Google Cloud Platform datacenters.
Nutanix is also anticipated to continue partnering with Google on its Xi disaster recovery-as-a-service product, which is likely to be available later this year.
We believe that Nutanix's robust product portfolio aided by the new offerings will continue to boost its clientele. Nutanix added 1,000 customers, takingtotal end-customer count to 10,610 in the last reported quarter.
Nutanix currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>