Arista Networks Sank Today -- Is It Time to Buy the Stock?
Arista Networks (NYSE: ANET) stock ended Thursday's trading in the red. The networking technologies company's share price had been up as much as 1.8% early in the day's trading, but it lost ground as the market soured on Nvidia's fourth-quarter earnings report.Arista stock closed out the day down 5%. Meanwhile, Nvidia's (NASDAQ: NVDA) share price closed out the session down 8.5% despite having been up as much as 2.8% earlier in the session.The market's read on Nvidia's Q4 report turned from bullish to bearish today, and the shift had substantial ripple effects on valuations across the broader market. The artificial intelligence (AI) hardware titan actually posted better-than-anticipated results for the period, with earnings per share of $0.89 on sales of $39.33 billion topping Wall Street's call for per-share earnings of $0.84 on revenue of $38.05 billion. Guidance for sales of roughly $43 billion in the current quarter came in well ahead of the consensus estimate for sales of $41.78 billion in the period. Continue reading
Arista Networks (NYSE: ANET) stock ended Thursday's trading in the red. The networking technologies company's share price had been up as much as 1.8% early in the day's trading, but it lost ground as the market soured on Nvidia's fourth-quarter earnings report.
Arista stock closed out the day down 5%. Meanwhile, Nvidia's (NASDAQ: NVDA) share price closed out the session down 8.5% despite having been up as much as 2.8% earlier in the session.
The market's read on Nvidia's Q4 report turned from bullish to bearish today, and the shift had substantial ripple effects on valuations across the broader market. The artificial intelligence (AI) hardware titan actually posted better-than-anticipated results for the period, with earnings per share of $0.89 on sales of $39.33 billion topping Wall Street's call for per-share earnings of $0.84 on revenue of $38.05 billion. Guidance for sales of roughly $43 billion in the current quarter came in well ahead of the consensus estimate for sales of $41.78 billion in the period.
