2024-02-14 03:33:43 ET
Summary
- Arista Networks is down after 4Q23 earnings, as guidance might be seen as conservative despite upgrades in customer capex.
- The company has a strong market position in Ethernet AI and its wins over Infiniband solidifies Ethernet in the AI networking space.
- Due to AI industry outlook upgrades, ANET could potentially increase its guidance in the near future.
- The stock is richly valued at 36x earnings so investors should be cautioned.
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Arista Networks: A Reset In Valuations Needed