Jim Cramer Nailed These 12 Stock Predictions

11. Arista Networks Inc. (NYSE:ANET)

Number of Hedge Fund Holders: 78

In that older episode, Cramer highlighted Arista Networks Inc. (NYSE:ANET)’s great earnings report at the time and reinforced his opinion that data center demand remained strong. He praised the company’s management and urged his viewers to become investors saying:

“Despite the roller coaster action in the stock market, the demand for infrastructure that can power artificial intelligence never really went away. Take Arista Networks. It’s a maker of high-performance networking equipment that’s increasingly essential if you want tons of computing power for AI, among other things. On Tuesday night, Arista reported a strong top and bottom line beat with management raising their full-year revenue forecast, which allowed the stock to jump 6.5% yesterday and a bit more today — as it should. The only problem? The stock’s up more than 25% for the year. That’s a high-quality problem. […] They just bought back a ton of stock. I think maybe you should join it.”

Cramer called it a “high-quality problem” and was right with the company’s shares climbing by 26.21% over the past year.

Arista Networks Inc. (NYSE:ANET) builds cloud networking infrastructure used in hyperscale data centers and AI computing environments, with a growing emphasis on Ethernet-based AI workloads. In a recent episode that aired this May, Cramer continued on his bullish narrative saying:

“Arista Networks is a crucial part of the data centers, and it reports. And last time, the doubters surfaced immediately, claiming that these guys were losing share. I think Arista can put those doubts to rest when it’s, you know, honestly, they can, and that means it’s a buy ahead of the quarter. Never count out CEO Jayshree Ullal. Big mistake. Think about buying Arista.”