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Business Insider
39 minutes ago
- Business
- Business Insider
Arista Networks Stock (ANET) Soars 18% and Hits All-Time High After Earnings
Arista Networks (ANET) stock is up 18% and at an all-time high of $139.50 after the computer networking company reported strong quarterly financial results. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Silicon Valley-based Arista Networks reported a solid second-quarter print, with the company's revenue reaching $2.2 billion and earnings per share of $0.73. Both the top and bottom line numbers surpassed Wall Street forecasts. Profit was up 30% year-over-year, while sales rose 38% from a year ago. Arista Networks also raised its guidance, saying it now expects Fiscal 2025 revenue growth of 17% to 25% from a year earlier. For the current quarter ending Sept. 30, Arista forecasts revenue of $2.25 billion at the midpoint of guidance, surpassing estimates of $2.12 billion. Analyst Upgrades The beat and raise quarter has led a slew of analysts on Wall Street to revise up their ratings and price targets on ANET stock. Needham raised its price target for Arista Networks' shares to $155 and maintained a Buy rating on the stock. Goldman Sachs (GS) reiterated its Buy rating with the same $155 price target. JPMorgan Chase (JPM) increased its price target to $150 and issued a Buy rating. Arista Networks is seen as a big beneficiary of the artificial intelligence (AI) data center boom. The company sells computer network switches that speed up communications in data centers. Arista Networks' two biggest customers are Microsoft (MSFT) and Meta Platforms (META), with demand from those two technology giants growing. ANET stock is now up 26% on the year. Is ANET Stock a Buy? The stock of Arista Networks has a consensus Strong Buy rating among 21 Wall Street analysts. That rating is based on 17 Buy and four Hold recommendations issued in the last three months. The average ANET price target of $131.35 implies 5.16% downside risk from current levels. These ratings could change after the company's latest financial results.
NDTV
9 hours ago
- Business
- NDTV
Apple To Invest Additional $100 Billion In US: White House Official
Apple will invest an additional $100 billion in the United States, taking its total pledge to $600 billion over the next four years, a senior White House official said Wednesday. The announcement, which was first reported by US media, will be officially made later Wednesday at 4:30 pm (2030 GMT) at a White House event with President Donald Trump. In February, Apple said it would spend more than $500 billion in the United States and hire 20,000 people, with Trump quickly taking credit for the decision. The Silicon Valley-based giant said it was its "largest-ever spend commitment," which came as tech companies battle for dominance in developing artificial intelligence technology. It builds on plans announced in 2021, when the company founded by Steve Jobs said that it would invest $430 billion in the US and add 20,000 jobs over the next five years. Trump, who has pushed US companies to shift manufacturing home by slapping tariffs on trading partners, claimed that his administration was to thank for the investment. Apple reported a quarterly profit of $23.4 billion in late July, topping forecasts despite facing higher costs due to Trump's sweeping levies. Tariffs are essentially a tax paid by companies importing goods to the United States. This means Apple is on the hook for tariffs on iPhones and other products or components it brings into the country from abroad.
Straits Times
14 hours ago
- Business
- Straits Times
Apple to invest additional $129b in US: White House official
Sign up now: Get ST's newsletters delivered to your inbox The investment would take Apple's total pledge to US$600 billion (S$772 billion) over the next four years. WASHINGTON - Apple will invest an additional US$100 billion (S$129 billion) in the United States, taking its total pledge to US$600 billion over the next four years, a senior White House official said Aug 6. The announcement, which was first reported by US media, will be officially made later on Aug 6 at 4.30pm at a White House event with President Donald Trump. In February, Apple said it would spend more than US$500 billion in the United States and hire 20,000 people, with Mr Trump quickly taking credit for the decision. The Silicon Valley-based giant said it was its 'largest-ever spend commitment', which came as tech companies battle for dominance in developing artificial intelligence technology. It builds on plans announced in 2021, when the company founded by Mr Steve Jobs said that it would invest US$430 billion in the US and add 20,000 jobs over the next five years. Mr Trump, who has pushed US companies to shift manufacturing home by slapping tariffs on trading partners, claimed that his administration was to thank for the investment. Apple reported a quarterly profit of US$23.4 billion in late July, topping forecasts despite facing higher costs due to Mr Trump's sweeping levies. Top stories Swipe. Select. Stay informed. Singapore MRT track issue causes 5-hour delay; Jeffrey Siow says 'we can and will do better' Singapore ST Explains: What is a track point fault and why does it cause lengthy train disruptions? Singapore Three people taken to hospital after fire in Punggol executive condominium Singapore Elderly man found dead in SingPost Centre stairwell could have been in confused state: Coroner Singapore 81 primary schools to hold ballot for Phase 2C of Primary 1 registration Singapore S'pore and Indonesia have discussed jointly developing military training facilities: Chan Chun Sing Sport Young Lions and distance runner Soh Rui Yong out of SEA Games contingent Singapore Two workers died after being hit by flying gas cylinders in separate incidents in 2025 Tariffs are essentially a tax paid by companies importing goods to the United States. This means Apple is on the hook for tariffs on iPhones and other products or components it brings into the country from abroad. AFP
Economic Times
a day ago
- Business
- Economic Times
Software productivity platform CodeKarma raises $2.5 million from Prosus, Accel, others
ETtech CodeKarma, a software productivity platform, has raised $2.5 million in its maiden funding round led by Dutch investment firm Prosus, Silicon Valley-based venture capital (VC) firm Accel and Xeed Ventures (formerly known as 021 Capital). The company is currently valued at $10 round also saw participation from SenseAI Ventures and Stargazer Ventures. CodeKarma founder and chief executive Ananth Vanchi told ET that the company plans to use the funds to accelerate product development and innovation, expand into markets like the US, and hire new talent. The funding comes amid the rise of artificial intelligence (AI) tools that are reshaping the coding process.'Although technology was advancing a fundamental issue remained unresolved and this was a significant pain point for almost every developer engineering manager and product manager which was understanding how their product was actually functioning for the end customer,' Vanchi said. Founded in 2024, the software productivity platform enables human developers as well as AI systems by bringing real-time production insights directly into the development workflow. It helps developers in identifying hidden risks, eliminating unused code, and shipping better software faster. 'Every enterprise that has been around for at least five to six years and gone through significant product and people churn, is a clear target for our product. We natively integrate with every AI coding tool available because, as we speak, more and more code is being written by AI than by humans,' he said. The Bengaluru-based startup operates across various sectors, including ecommerce, fintech and logistics, charging enterprises based on how many microservices they use on its platform.'At least 40% of a developer's time goes into figuring out how systems are functioning, rather than improving them. CodeKarma's insights help teams understand how things are working, so they can build software better,' Vanchi added. Commenting on the investment Dhruv Gupta, investor, Prosus said, 'As AI accelerates software creation, the cost of unmanaged complexity, especially tech debt, will rise sharply. CodeKarma addresses this challenge by creating a persistent relay between production and development.''By integrating with most AI-IDEs like Cursor or Copilot to create the bridge between dev time and run time for debugging & refactoring, and especially excelling at large code bases, their platform positions them to become a critical infrastructure layer for all engineering teams,' said Subrata Mitra, partner, Accel. Last month, vision AI mobile app testing platform Drizz raised $2.7 million in its maiden funding round, which was led by early-stage venture capital firm Stellaris Venture Partners. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Berlin to Bharuch: The Borosil journey after the China hit in Europe FIIs are exiting while retail investors stay put. Will a costly market make them pay? BlackRock returns, this time with Ambani. Will it be lucky second time? Paid less than plumbers? The real story of freshers' salaries at Infy, TCS. Stock Radar: Down 27% from highs! Hero MotoCorp stock shows signs of momentum after breaking out from 11-week consolidation For those prepared for the long game: 5 mid-cap stocks from different sectors with an upside potential of 14 to 33% in one year Financial services: Time to look at a new set for the next cycle? 5 stocks from the financial services space with upside potential of up to 37% These 8 banking stocks can give more than 29% returns in 1 year, according to analysts
Time of India
5 days ago
- Business
- Time of India
ETtech Deals Digest: Startups raise $126 million this week, down 35% on-year
ETtech ETtech Academy Empower your mind, elevate your skills ETtech ETtech Startups raised around $125.7 million during the week of July 26 to August 1, marking a 34.6% decline from the $192.1 million raised during the same period last year, according to data from funding amount declined from the previous week as well, dropping 40.5% from $211.3 activity, too, declined this week on a year-on-year (YoY) basis, with 17 transactions recorded during the period, compared to the 45 deals seen in the corresponding week last intelligence startup Safe Security raised $70 million in a funding round led by Avataar Ventures, with participation from Susquehanna Asia Venture Capital, NextEquity Partners, and Prosperity7 kitchen operator EatClub, which runs brands like Box8 and Mojo Pizza, raised around $22 million in funding led by existing investors Tiger Global, A91 Partners, and 360 One Asset Management. Metaforms raised $9 million in a funding round led by Peak XV Partners, with Nexus Venture Partners and Together Fund gaming platform Stan raised $8.5 million in a funding round from a clutch of investors, including Japanese gaming firms, Google, and Nazara Technologies Edtech startup Arivihan, which offers automated, personalised coaching for school students, raised $4.17 million in a funding round led by Dutch investment firm Prosus and Silicon Valley-based venture capital (VC) firm Accel
