Shares & Derivatives
Arista Networks- riding the cloud computing wave with potential upside
By Fire By Fourty  •  July 8, 2020
I got to know Arista Network (NYSE:ANET) through Motley Fool's article back in 2019 as I was browing through its website. Back then, the stock was trading at its peak level of $324 and it rode on the growing demand of cloud computing. I added 5 shares without giving a second thought and 6 shares at $195.77 to average down. Currently it is trading at $210.78 (8 July). It had a good run since it was listed in NYSE and the stock trended downwards after it reported its first quarter earnings on 2nd May. Although results showed a solid set of numbers with revenue growth of 26%, the drop was attributed to forward guidance on slowdown in orders from tech titan, which was believed to be Microsoft. Despite assuring investors it was a short term issue, it gapped down and opened at $261 the following day. Earnings forecast continued to disappoint on...
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By Fire By Fourty
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