Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Arista Networks reported first quarter fiscal 2026 results demonstrating strong revenue growth and market share gains, particularly in high-speed Ethernet switching above 10 gigabits.</li><li>Total revenue for the quarter reached $2.71 billion, marking a 35.1% year-over-year increase and exceeding guidance.</li><li>Growth was led by AI and specialty provider customers, underpinning the company’s expanded AI networking strategy targeting scale-up, scale-out, and scale-across architectures to support diverse AI accelerator deployments.</li></ul>

Arista Networks reported first quarter fiscal 2026 results demonstrating strong revenue growth and market share gains, particularly in high-speed Ethernet switching above 10 gigabits.Total revenue for the quarter reached $2.71 billion, marking a 35.1% year-over-year increase and exceeding guidance.Growth was led by AI and specialty provider customers, underpinning the company’s expanded AI networking strategy targeting scale-up, scale-out, and scale-across architectures to support diverse AI accelerator deployments.

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

<ul>
<li>Arista Networks reported Q1 2026 revenue of $2.71 billion, up 3~8% QoQ, up 35.1% YoY and meaningfully ahead of the $2.6 billion guided midpoint</li>
<li>Looking ahead, the company guided current quarter revenues at $2.8 billion, up 27% YoY and up 3.7% QoQ.</li>
<li>Despite the beats and raise, the stock fell 13.6% during the session, recovering slightly in after hours trading. The culprit in all likelihood: looming, multi-year supply chain constraints. </li>
</ul>


Arista Networks reported Q1 2026 revenue of $2.71 billion, up 3~8% QoQ, up 35.1% YoY and meaningfully ahead of the $2.6 billion guided midpoint
Looking ahead, the company guided current quarter revenues at $2.8 billion, up 27% YoY and up 3.7% QoQ.
Despite the beats and raise, the stock fell 13.6% during the session, recovering slightly in after hours trading. The culprit in all likelihood: looming, multi-year supply chain constraints. 


Arista Networks Q1 2026. Punished for Perfection as Lead Times Lengthen

<ul><li>Arista Networks is becoming one of the most important companies in the AI infrastructure race, not because it builds models or GPUs, but because it helps connect the massive systems that make modern AI possible.</li><li>Google’s new Virgo Network, designed to support its AI hypercomputer and link up to 134,000 chips, has put fresh attention on Arista’s role in high-performance AI switching.</li><li>The stock recently hit a record close near $177, reflecting growing investor recognition that networking is no longer a secondary layer in AI.</li></ul>

Arista Networks is becoming one of the most important companies in the AI infrastructure race, not because it builds models or GPUs, but because it helps connect the massive systems that make modern AI possible.Google’s new Virgo Network, designed to support its AI hypercomputer and link up to 134,000 chips, has put fresh attention on Arista’s role in high-performance AI switching.The stock recently hit a record close near $177, reflecting growing investor recognition that networking is no longer a secondary layer in AI.

Arista Networks Is Riding Google’s Virgo—But That’s Just The Beginning!

<ul><li>Arista Networks recently reported its financial results for the fourth quarter and fiscal year 2025, marking another significant year of growth and expansion.</li><li>The company achieved a record revenue of $9 billion for 2025, reflecting a year-over-year growth of 28.6%.</li><li>This was supported by a non-GAAP gross margin of 64.6% and an impressive non-GAAP operating margin of 48.2%.</li></ul>

Arista Networks recently reported its financial results for the fourth quarter and fiscal year 2025, marking another significant year of growth and expansion.The company achieved a record revenue of $9 billion for 2025, reflecting a year-over-year growth of 28.6%.This was supported by a non-GAAP gross margin of 64.6% and an impressive non-GAAP operating margin of 48.2%.

Arista Networks: Powering the AI Infrastructure Surge Through High-Performance Networking!

<ul><li>Arista Networks reported strong financial results for the third quarter of 2025, achieving a record revenue of $2.31 billion, a year-over-year increase of 27.5%.</li><li>This growth was supported by the increasing demand for their networking solutions, particularly in the AI and cloud segments.</li><li>Notably, Arista's software and services accounted for approximately 18.7% of the quarter's revenue, reflecting the company's strategic emphasis on diversifying its revenue streams beyond hardware.</li></ul>

Arista Networks reported strong financial results for the third quarter of 2025, achieving a record revenue of $2.31 billion, a year-over-year increase of 27.5%.This growth was supported by the increasing demand for their networking solutions, particularly in the AI and cloud segments.Notably, Arista's software and services accounted for approximately 18.7% of the quarter's revenue, reflecting the company's strategic emphasis on diversifying its revenue streams beyond hardware.

Arista Powers Into Full Rack Solutions—Could Its Blue Box JDM Model Crush Traditional OEMs?

United States

Arista Networks Inc. provides cloud networking solutions for data-centers and computer environments. The Company offers ethernet switches, pass-through cards, transceivers, cards, and enhanced operating systems. Arista also provides host adapter solutions and networking services and markets its products globally.

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Arista Networks (ANET US)

Arista Networks: Inside The Scale-Up

Arista Networks reported first quarter fiscal 2026 results demonstrating strong revenue growth and market share gains, particularly in high-speed...

Baptista Research

Arista Networks Q1 2026. Punished for Perfection as Lead Times Lengthen

Despite the beats and raise, the stock fell 13.6% during the session, recovering slightly in after hours trading. The culprit in all likelihood:...

William Keating

Arista Networks Is Riding Google’s Virgo—But That’s Just The Beginning!

Arista Networks is becoming one of the most important companies in the AI infrastructure race, not because it builds models or GPUs, but because...

Baptista Research

Arista Networks: Powering the AI Infrastructure Surge Through High-Performance Networking!

Arista Networks recently reported its financial results for the fourth quarter and fiscal year 2025, marking another significant year of growth...

Baptista Research

Arista Powers Into Full Rack Solutions—Could Its Blue Box JDM Model Crush Traditional OEMs?

Arista Networks reported strong financial results for the third quarter of 2025, achieving a record revenue of $2.31 billion, a year-over-year...

Baptista Research

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