Jim Cramer on Arista: “That’s a Beast That’s Going Higher”

Arista Networks Inc (NYSE:ANET) is one of the stocks Jim Cramer recently provided insights on. A caller inquired about the stock, noting its “monster gains” this year. Cramer replied:

“Don’t touch Arista. Don’t touch Arista. That one, that’s a beast. That’s a beast that’s going higher. $200 billion, Jayshree Ullal, I don’t talk enough about what an amazing CEO she is. That stock goes higher.”

Arista Networks Inc (NYSE:ANET) sells cloud-based networking solutions and related software for data center, AI, and enterprise operations. In addition, it provides network services, support, and hardware solutions. Cramer mentioned the company during the August 6 episode and said:

“And look, this short-busting Palantir is not alone. Stocks in this market fly when they’re heavily shorted and something good, anything good, happens. Take Arista Networks, one of my faves, the data center networking play… If the stock’s been creeping up every step by step, inch by inch, the shorts were increasing their bets the whole time. They figured it was like shooting fish in a barrel.

Then Arista reported, and the numbers, they were stupendous. The last quarter was an apparition. CEO Jayshree Ullal gaffed and gutted the short sellers… The stock managed to shoot up more than 17% today. You don’t find ordinary longs pay up like this. It’s the short sellers panicking, knowing that they’re done, stick a fork in them. They have no choice but to buy, to close out their now losing positions.”

While we acknowledge the risk and potential of ANET as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ANET and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.