Why Arista Networks could be a top tech pick: Analyst

01/04/2024 05:22
Why Arista Networks could be a top tech pick: Analyst

The tech sector dominated markets in 2023, driven by the Magnificent Seven stocks and endless talks about AI. Nvidia (NVDA) was one of the seven that more than exceeded expectations, but could there be some new contenders for top tech stocks?  Argus Director of Research Jim Kelleher joins Yahoo Finance to discuss some of the top tech stocks that investors should keep an eye on, including Arista Networks (ANET). Kelleher points to Arista's business model, particularly its data centers, as a key factor in his choice "They're truly the first real cloud-based networking company. They send to serve what they call cloud titans which would mean Google Cloud (GOOG, GOOGL), Microsoft Azure (MSFT), AWS or Amazon (AMZN)," Kelleher says. "So, they do serve that vertical which is a big part of their business, but they also serve enterprise customers and pushing into smaller enterprises and pushing up into the carrier space." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino.

The tech sector dominated markets in 2023, driven by the Magnificent Seven stocks and endless talks about AI. Nvidia (NVDA) was one of the seven that more than exceeded expectations, but could there be some new contenders for top tech stocks?

Argus Director of Research Jim Kelleher joins Yahoo Finance to discuss some of the top tech stocks that investors should keep an eye on, including Arista Networks (ANET).

Kelleher points to Arista's business model, particularly its data centers, as a key factor in his choice

"They're truly the first real cloud-based networking company. They send to serve what they call cloud titans which would mean Google Cloud (GOOG, GOOGL), Microsoft Azure (MSFT), AWS or Amazon (AMZN)," Kelleher says. "So, they do serve that vertical which is a big part of their business, but they also serve enterprise customers and pushing into smaller enterprises and pushing up into the carrier space."

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Nicholas Jacobino.

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