As previously reported, Cleveland Research downgraded Arista Networks (ANET) to Neutral from Buy. Analyst Ben Bollin expects results near-term to be more in line and reduced FY18 earnings forecast to $7.06 from $7.62 and revenue growth to +29% from +33% prior. Bollin said Hyperscale customers are likely to have slower growth given some shifts towards whitebox and Cisco (CSCO) price aggression. However, the analyst notes feedback suggests additional share gain in enterprise and service provider and sees Amazon (AMZN) as a potential new customer with 400GB investment, but not until 2019 or later.