What Could Send Arista Networks Stock Higher?

Arista Networks (ANET) stock trades at 65.7 times earnings, compared with 21.5 for the S&P 500. Investors typically tolerate that kind of premium only for a company with substantial growth still ahead. Executives have raised the sales outlook for 2026 three times, pointing to artificial intelligence customers to explain the trajectory. So what are those customers buying from Arista.