Reported 8 months ago
The article discusses how artificial intelligence (AI) is a hot topic on Wall Street with many companies vying to demonstrate their AI expertise. Two companies flying under the radar with strong AI credentials are highlighted: Arista Networks and Broadcom. Arista Networks supplies routers and switches to tech giants like Meta Platforms and Microsoft, showcasing impressive financial results with strong revenue growth and profitability. On the other hand, Broadcom, a semiconductor hardware and software supplier, saw a 43% revenue increase in the second quarter of 2024, driven by AI product sales. Both companies are well-positioned to benefit from the current AI boom, although investors should be mindful of their high valuations compared to historical results.
Source: YAHOO