Equinix (EQIX) closed at $765.51, down 1.06% from the previous day, falling short of the S&P 500’s gain. Analysts predict an EPS of $9.27 for Equinix, with revenue forecasted at $2.33 billion. The Zacks Consensus Estimates for the fiscal year show earnings of $38.13 per share and revenue of $9.25 billion, with a Zacks Rank of #3 (Hold).

Equinix is currently trading at a Forward P/E ratio of 20.29, higher than the industry average of 14.17. The company’s PEG ratio stands at 1.23, compared to the industry’s average of 3.2. The REIT and Equity Trust – Retail industry, where Equinix belongs, ranks in the top 38% of all industries with an Industry Rank of 92.

A semiconductor company, not as well-known as NVIDIA, is positioned for growth in the market. With earnings growth and expanding customer base, it is set to capitalize on the demand for AI, ML, and IoT. Global semiconductor manufacturing is projected to rise to $971 billion by 2028. For more information, visit Zacks.com.

Read more at Nasdaq: Equinix (EQIX) Stock Falls Amid Market Uptick: What Investors Need to Know