ANET — Arista Networks

_Last updated 2026-10-29 16:00 ET from report. Screening/research, not investment advice._

Business

Data-center Ethernet switching and routing for cloud and AI clusters (Arista IR).

Catalysts, guidance & news

2026-10-29 16:00 update

• 10-29: −1.32%; after hours −1.8% (AMZN ρ 0.41, VRT 0.67). ANET reports 11-03 AMC (TRAI events). Hyperscaler capex not cut: GOOGL $195–205B, AMZN ~$220B (report).

• −7.19% Oct 22 (TRAI). Oct 23 12:05 ET: +2.13% (high +2.81%) — strongest of the AI-power/infra group, tracking SMH +1.62% (Yahoo 5m). In short_momentum with clusterFlag Hardware ×2.
• Next earnings Tue Nov 3 after the close, call 4:30 PM ET (Arista press release, 2026-10-06).
• Replay (my calc): short_momentum n3, mean −0.24%.

TRAI data (2026-10-23 8:53 AM ET premarket run; daily stats = Oct 22 session)

• Sector (TRAI): Hardware. Oct 22: -7.19%, relVol 1.54, ATR 5.43%, beta60 2.56, residualZ -1.59, indicated gap +0.54%, signals: short_momentum (TRAI /api/latest).
• Next earnings: 2026-11-03 AMC, gap risk none (outside 5-session window) (TRAI /api/events, asOf 2026-10-23).
• Typical earnings reaction (last 4): avg |gap| 8.87% (2 ATR), max |gap| 10.33%, gap fill rate 0%, continuation 50%, avg day-1 move in gap direction -0.89% (TRAI /api/events).
• Recent events: 2025-11-04 AMC: gap -7.09%, day-1 -1.58%, close-close -8.55%, EPS surprise 4.98%; 2026-02-12 AMC: gap +7.92%, day-1 -2.90%, close-close +4.79%, EPS surprise 8.17%; 2026-05-05 AMC: gap -10.12%, day-1 -3.88%, close-close -13.61%, EPS surprise 7.73%; 2026-08-04 AMC: gap +10.33%, day-1 -6.13%, close-close +3.57%, EPS surprise 15.18% (TRAI /api/events).
• Correlation cluster 1 (avg ρ 0.588, 60d): ON, MCHP, TXN, ADI, CAT, ANET, VRT, GEV, ETN, AVGO, MU, TSM, ASML, KLAC, AMAT, LRCX, MRVL, ARM, AMD, INTC, NVDA, ORCL, SMCI, DELL (TRAI /api/correlations, asOf 2026-10-22).
• Highest 60d correlations: ETN 0.78, GEV 0.71, VRT 0.67, CAT 0.67, AMAT 0.66 (TRAI /api/correlations).

Sector note

• ai-power-infrastructure

Report links

• 2026-10-23 12:00 — AI power, industrials, healthcare
• 2026-10-29 16:00 — AI-infra momentum vs capex financing; INTC/AMZN after-close

2026-10-30 11:00 update

• −7.01% at 11:05 ET in the INTC/AMZN-led chip selloff (inside OR30, near VWAP). Prints Tue 11-03 after the close, call 4:30 PM ET (Arista IR, 2026-10-06). TRAI last-4 avg |gap| 8.87% (2.0 ATR), fill rate 0%.
• 2026-10-30 11:00 — semis rout, pre-earnings gap risk

2026-11-02 12:00 update

• Day 2 as a TRAI fade-long: gapped +1.03%, −1.44% at 12:10 ET, below VWAP (Yahoo). Prints Tue 11-03 AMC: consensus EPS ~$1.08, rev $3.33B; guide ~$3.3B, op margin 48–49% (24/7 Wall St., 2026-11-02). Key number is gross margin: Q2 non-GAAP 63.4% vs 65.6% a year earlier on component/memory costs; $9.7B purchase commitments (TIKR). Street Q4 ~$3.6B (TIKR).
• 5-year replay: after SMH ≤ −5% days (n 23), ANET next-day o→c +0.09%, close→close −0.50% (my calc).
• 2026-11-02 12:00 — semis day 2, fade-longs fail, compute/memory vs analog split