This Data Center Hardware Business Is a Top Buy After Q1 2021 Earnings

Amid a new IT upgrade cycle, data center and networking hardware firm Arista Networks (NYSE: ANET) is back in growth mode. While it was once known as a high-flying growth stock, this time around Arista looks more like a reasonable value, especially after its first-quarter 2021 earnings update was released on Tuesday. Revenue was nearly $668 million, a 28% year-over-year increase, and free cash flow was also up 29% to $248 million.