{"id":79270,"date":"2023-11-01T06:47:01","date_gmt":"2023-11-01T10:47:01","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/cloud-companies-will-spend-billions-on-ai-buy-arista-networks-stock\/"},"modified":"2023-11-01T06:47:05","modified_gmt":"2023-11-01T10:47:05","slug":"cloud-companies-will-spend-billions-on-ai-buy-arista-networks-stock","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=79270","title":{"rendered":"Cloud Companies Will Spend Billions on AI. Buy Arista Networks Stock."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000786887\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:66.66666666666666%;\" data-subtype=\"photo\" class=\"image-container  responsive-media article__inset__image__image\"><\/div>\n<\/figure><\/div>\n<p>\n        Arista Networks<br \/>\n       shares are getting a post-earnings boost, aided by a bullish call from Morgan Stanley analyst Meta Marshall, who sees the company getting a big boost from AI-driven data-center buildouts.<\/p>\n<p>Late Monday, Arista posted better-than-expected September quarter financial results, with revenue and profits topping Street estimates. The networking-infrastructure provider also provided financial guidance for the December quarter that was more upbeat than analysts had expected.<\/p>\n<div class=\"paywall\">\n<p>In a research note Monday, Marshall lifted her rating on Arista (ticker: ANET) shares to Overweight from Equal Weight. She raised her target for the stock price to $220, from $185.\u00a0<\/p>\n<p>Arista shares were 13% higher on Tuesday to $198.24, touching a new 52-week high at $198.98. The stock is up 63% so far in 2023.<\/p>\n<p>Marshall sees Arista as the best way to take advantage of \u201cthe $25 billion AI networking market.\u201d In particular, she sees Arista benefiting from the adoption of Ethernet networking in data centers, replacing a competing networking standard called Infiniband. <\/p>\n<p>\u201cWe view Arista as the best way to play AI buildout within networking, and given that, we are willing to look past concerns on customer concentration and valuation,\u201d she wrote.\u00a0<\/p>\n<p>Marshall said that the ethernet-networking opportunity is largest with cloud providers, where the company already has a strong relationship.<br \/>\n        Microsoft<br \/>\n       (<br \/>\n        META<br \/>\n      ) and Meta Platforms (META) are the company\u2019s largest customers, together accounting for more than 40% of revenue in the most recent fiscal year. <\/p>\n<p>Marshall sees sales of AI networking hardware growing at a 19% annual compound rate through 2027, saying Arista should be \u201ca share gainer within that opportunity.\u201d<\/p>\n<p>While the stock isn\u2019t inexpensive, she said, \u201cgiven the scarcity of assets who truly see benefit in this space, we think Arista is likely to continue to command a premium.\u201d<\/p>\n<p>Write to Eric J. Savitz at eric.savitz@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/arista-networks-stock-ai-networking-cloud-companies-6ac8decc?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Arista Networks shares are getting a post-earnings boost, aided by a bullish call from Morgan Stanley analyst Meta Marshall, who sees the company getting a big boost from AI-driven data-center buildouts. Late Monday, Arista posted better-than-expected September quarter financial results, with revenue and profits topping Street estimates. The networking-infrastructure provider also provided financial guidance for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":79271,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-79270","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cloud Companies Will Spend Billions on AI. 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