Own an AI or Tech ETF? Arista’s Big Quarter Just Paid Off
Arista just posted a blowout quarter, but whether that gain actually hit your portfolio depends on something most ETF investors never check before buying.
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Arista Networks (NYSE:ANET | ANET Price Prediction) shares rose 5.7% to $179.59 as of 11:54 AM ET Wednesday. The networking company reported third-quarter results after the close on November 3. If you own a broad technology sector ETF, some of that gain reached your account, but if you own some of the most popular AI and NASDAQ funds, it probably didn’t.
What Arista Reported
Arista makes high-speed Ethernet switches and the software that runs them. These boxes connect servers inside data centers. AI clusters link thousands of accelerator chips that have to trade data constantly, so every new AI data center needs a large, fast network. Arista says it has already surpassed 100 EtherLink customers for its AI networking line.
Revenue came in at $3.66 billion, ahead of the $3.33 billion consensus and up 58.5% year over year. Non-GAAP EPS of $1.20 exceeded the $1.08 estimate. The company’s chief executive called it “the highest year-over-year revenue growth since our IPO and record profitability.”
Fourth-quarter guidance calls for revenue of $3.90 billion to $4.00 billion and non-GAAP EPS of $1.26 to $1.30. Management also gave a first look at 2027, guiding to growth of 38% to 40%, or about $18.5 billion in revenue. It expects AI fabrics revenue to double to about $7 billion.
A Rebound After a Rough Month
Today’s gain follows a weak stretch. Before today, Arista had fallen 3.96% over the past week and 13.39% over the past month. Beats haven’t always raised the stock, either. After its first-quarter 2026 report, Arista dropped 13.61% even though earnings came in 7.73% above estimates.
Which Funds Hold Arista and How Much
Each fund below reports holdings on a different date, so treat every weight as a snapshot from that date.
- State Street Technology Select Sector SPDR ETF (NYSEARCA:XLK): As of June 30, 2026, Arista made up 0.98% of net assets, a position worth about $1.21 billion in a $123.9 billion fund. Based on that dated weight, today’s move adds roughly 0.06 percentage points to the fund, or about $5.57 per $10,000 invested.
- Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC): As of July 31, 2026, Arista made up 0.84% of net assets, about $167 million in a $19.85 billion fund. By the same rough method, that’s about 0.05 percentage points, or close to $4.80 per $10,000.
- Global X Artificial Intelligence & Technology ETF (NASDAQ:AIQ): Its August 31, 2026 holdings report shows no Arista position.
- Invesco QQQ Trust, Series 1 ETF (NASDAQ:QQQ) also shows no Arista among its June 30, 2026 holdings. QQQ tracks NASDAQ-listed companies, and Arista trades on the NYSE.
Arista joined the S&P 100 in September 2026, but in an S&P 500 or total market fund it’s one of hundreds of holdings. A move like today’s barely shows for those investors.
What This Quarter Says About Owning AI Through a Fund
Thematic and sector funds hold fewer names, so a single company’s earnings move them more in either direction. Funds tracking broad indexes spread both the upside and the risk across the whole market. Today’s numbers suggest that if you want AI networking exposure through a fund, the holdings report matters more than the “AI” label in the name. Arista is one of several picks-and-shovels suppliers behind the AI data-center expansion, and we covered seven of them, from power and cooling to networking, in a free report you can grab here.
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Ryne Mauck is an investment writer covering exchange-traded funds, retirement planning, and portfolio strategy. Through his work at 24/7 Wall St. and other investment platforms, including Seeking Alpha, he aims to provide clear, research-driven insights that help investors make more informed decisions while maintaining a long-term approach to investing.
Ryne holds a B.Sc. in Finance and an M.A. in Political Science. He is a formerly registered Municipal Advisor Representative and has passed the Series 50, Series 63, and Series 65 exams. His articles are not intended to be, nor should they be interpreted as, financial advice.
