Why Arista Networks, Nvidia, and The Trade Desk Plunged Today
Shares of cloud networking star Arista Networks (NYSE: ANET), artificial intelligence (AI) leader Nvidia (NASDAQ: NVDA), and programmatic ad platform The Trade Desk (NASDAQ: TTD) plunged 7.9%, 2.6%, and 7.6%, respectively, today as of 3:12 p.m. EDT.
Arista, a cloud networking pioneer, is a large supplier to Meta Platforms (NASDAQ: META), the parent company of Facebook, Instagram, WhatsApp, and Quest VR offerings. Therefore, as Meta's spending goes, so goes the revenue trajectory of Arista.
Although not as highly concentrated, Nvidia is also a big supplier, as Meta continues to deploy heavy quantities of Nvidia chips to improve its Reels recommendation engine and advertising tools. Meanwhile, The Trade Desk is somewhat of a peer, as both it and Meta are large digital advertising players.
Source Fool.com
Meta Platforms Inc. Stock
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As a result the target price of 500 € shows a slightly positive potential of 19.57% compared to the current price of 418.15 € for Meta Platforms Inc..
