10 Best Meme Stocks to Invest In

6. CrowdStrike Holdings (NASDAQ:CRWD)

Market Cap: $256.42 billion

Number of Hedge Fund Holders: 89

CrowdStrike chief executive George Kurtz called the second quarter the best in the company’s history, and the customer numbers back him up. The cybersecurity company added a record $332.8 million in net new annual recurring revenue, lifting its total to $5.84 billion, up 25% from a year earlier.

Customers are buying more from CrowdStrike at once. Annual recurring revenue from accounts that have adopted its Falcon Flex program now tops $2.29 billion, up 101% year over year. Net new revenue from brand-new customers also hit a record, so growth is coming from new and existing accounts alike. The company set records for operating cash flow and free cash flow in the quarter as well.

Management responded by raising its outlook. It now expects net new annual recurring revenue to grow 34% at the midpoint for the fiscal year, up from its earlier forecast. Kurtz said every enterprise will run on AI and that securing it is the largest market opportunity in the company’s history.

Whether a premium price still makes sense after the recent selloff is explored in this look at CrowdStrike’s valuation.

5. Arista Networks (NYSE:ANET)

Market Cap: $212.97 billion

Number of Hedge Fund Holders: 91

Arista Networks’ second quarter was its first above $3 billion in revenue, at $3.036 billion. Sales grew 37.7% from a year earlier and 12.1% from the first quarter, and the company’s own forecast calls for about $3.3 billion this quarter. Chief executive Jayshree Ullal said customers see networking as the center of how their infrastructure runs.

Arista makes the switches that connect servers inside data centers, and AI clusters need a lot of them. The company has built a line of AI networking products that sit at the heart of its strategy, and its balance sheet shows the demand building. Current deferred revenue stood at $5,100.7 million at the end of June, up from $4,002.6 million at the end of 2025. The long-term portion grew too, from $1,369.8 million to $1,765.2 million. Both balances were higher at the end of June than at the start of the year.

Arista reports its next quarter this week, so fresh numbers are only days away.

Readers can see how that cash cushion plays out in our breakdown of Arista’s deferred revenue and cash flow.