Arista Networks Stock Rises After Strong AI Cloud Demand Powers Earnings, Outlook
Arista(ANET) Investopedia·2024-05-08 10:55
Key TakeawaysArista Networks shares jumped in late trading on Tuesday after the cloud networking company topped quarterly estimates and provided a better-than-expected current-quarter outlook.The company's quarterly results were driven by growing demand for AI networking solutions that connect cloud and data center infrastructure.The company also announced a $1.2 billion share repurchase program.Monitor the $290 level where Arista shares may encounter resistance from a trendline linking a series of price ac ...