TECH - Arista Networks Vs. Globalfoundries: Which AI Stock Is The Better Buy Ahead Of Q1 Earnings? | Benzinga
Two technology sector AI plays — Arista Networks Inc (NYSE:ANET) and Globalfoundries Inc (NASDAQ:GFS) — will be reporting their first-quarter earnings on Tuesday. Globalfoundries will report before the market opens, Arista will report after market hours.
Arista Networks: Powering Ahead With AI
Arista Networks is known for its high-performance, software-driven networking solutions for large data centers and cloud computing environments.
In late April, the company introduced a new network identity service for enterprise security and IT operations. The service is powered by AI and delivered via the cloud.
Wall Street expects Arista Networks to report $1.75 in EPS and $1.552 billion in revenue.
Globalfoundries: $1.5B Funding to Support Further Growth
Globalfoundries is known for manufacturing semiconductor chips for a variety of industries, including automotive, communications and computing.
The company has secured $1.5 billion in funding for a new facility in Malta, New York. The funding has been secured to expand its manufacturing capacity for chips used in automotive, IoT, aerospace, defense and other markets. The funding is part of the U.S. CHIPS and Science Act.
Wall Street expects GlobalFoundries to report 23 cents in EPS and $1.523 billion in revenue.
With the rise in AI use cases and applications promising growth ...