Arista Networks Inc. (NYSE:ANET) is among the 11 best robotics stocks to buy right now.
On March 3, Arista Networks (NYSE:ANET) CEO Jayshree Ullal said her company is expected to reach $11 billion in revenue this year, up from $9 billion last year, marking the first time that the cloud networking company reaches the eight-digit revenue mark. Speaking at the Morgan Stanley Technology, Media & Telecom Conference, the Arista Networks (NYSE:ANET) CEO also estimated that the company’s total addressable market has doubled from $60 billion to $105 billion.
During the conference, Ullal noted that Arista Networks (NYSE:ANET) is experiencing an increase in its customer base, which is expected to drive higher spending. The company also anticipates having 1 to 2 new customers contributing to 10% of its revenue this year, while sustaining its margins through hardware and software differentiation. In addition, the company said that it is investing in chips, silicon, and memory to mitigate what it anticipates as a two-year memory shortage that will affect its customers.
Arista Networks Inc. (NYSE:ANET) is a company that develops, markets, and sells cloud networking solutions, including network applications and Gigabit Ethernet switching and routing platforms.
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