### @ANET — Confirmed — from the earnings call and the 10-K
Yeah, no, look - Arista's had two customers each over 10% of revenue for three straight years, right? In 2025 they were about 16% and 26% of revenue, roughly 42% combined, with one easing from 21% to 16% and the other climbing from 18% to 26% – we didn’t say which is which. We named them on the Q1‑2026 call: Microsoft and Meta, each a greater‑than‑10% customer for over a decade. Management still expects to add one, maybe two more 10% customers this year, but caveats that demand is there while shipments – not demand – are the gating question, that's the way to look at it.
- tier: Confirmed (✓)
- source: ANET / Two customers, named at last: Microsoft and Meta
- receipt: https://ticker.thevixguy.com/p/p-day-20260730-anet-src-anet-customer-concentration-rotation
- posted: 2026-07-30T13:01:03.507Z