Why Shares in Vertiv Surged 30% This Week
Shares in data center equipment maker Vertiv (NYSE: VRT) rose a whopping 30% in the week to midday Thursday. The move comes after a blockbuster second-quarter earnings report and a significant hike in full-year guidance.
It's been a strong year for the company, with the ongoing demand for data center equipment driven by both the cloud/hyper scale (companies like 's Azure, Amazon Web Services, and Google Cloud) and the colocation (data center providers) markets. A surge of interest in artificial intelligence (AI) has bolstered the outlook for the industry in general.
Vertiv's management, guided by Executive Chairman Dave Cote (a highly respected industrial figure), has raised full-year earnings guidance twice this year, from $1.17-$1.27 in February to $1.22-$1.32 in April, and now to $1.54-$1.64.
Source Fool.com
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