10 AI Stocks on Wall Street’s Radar

4. Arista Networks Inc. (NYSE:ANET)

Arista Networks Inc. (NYSE:ANET) is a leading provider of network switches and platforms that facilitate software-defined networking (SDN) for large AI, data centers, cloud computing, high-frequency trading, and routing environments. The company’s award-winning platforms, such as the Linux-based Extensible Operating System (EOS) network stack, ensure efficient and secure automation, data analytics, and agility for AI/ML workloads on AI accelerators and storage systems.

On January 17th, Bank of America (BofA) analysts hiked their target price for Arista Networks Inc. (NYSE:ANET) to $130 from $114. They are of the view that the company will likely benefit from the demand surge for networking infrastructure driven by GenAI. The analysts explained that increasing computational use cases are fueling the requirement for new-age networking equipment, including switches, routers, and storage systems that Aristra Networks Inc. (NYSE:ANET) can tap into.