BUZZ-Arista Networks hits record high as Trump unveils massive AI investment plan
Shares of cloud computing provider Arista Networks ANET.N rise 7% to $130.49, hitting a record high after U.S. President Donald Trump unveiled a $500 billion private sector investment plan to fund AI infrastructure
ANET on track for its six straight session of gains
Even if the project falls short of its target, it should still provide a boost to vendors including ANET, Ciena CIEN.N, Coherent COHR.N and Lumentum LITE.O, Jefferies analysts led by George Notter said in an investor note
"We understand that OpenAI/Microsoft MSFT.O is the "technology lead." That's great for Arista given their incumbency at Microsoft (and Oracle ORCL.N too)," Notter added
CIENA is up 5%, COHR is up 4%, and LITE is up 3%
Among the 25 analysts that cover ANET, the breakdown of recommendations are 20 "strong buy" or "buy," 4 "hold" and 1 "sell" or "strong sell." Its median PT is $115, per data compiled by LSEG
ANET is up ~18% YTD after gaining ~88% in 2024
(Reporting by Chibuike Oguh in New York)
((Chibuike.Oguh@thomsonreuters.com; +332-219-1834; Reuters Messaging: chibuike.oguh.thomsonreuters.com@reuters.net))
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