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Avnet Enhances Cloud Platform

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Avnet, Inc.’s (AVT - Free Report) operating unit, Avnet Technology Solutions, has recently declared that its partners in the U.S. and Canada can now access its latest Cloud Evolution Paks (E-Paks). These newly introduced offerings would facilitate Avnet’s clients to easily deploy private cloud-rated facilities through HP CloudSystem or HP Cloud Service Automation.

The company in association with recently acquired Pepperweed Consulting has developed E-Paks. Designed with Pepperweed’s Evolution IP, E-Paks is a wide collection of packaged implementation services.

According to management, Avnet with the help of HP certified professionals is assisting its partners to use private cloud platform within a fixed price and time. E-Paks would not only broaden the company’s product portfolio but also help its partners to improve their entire IT services thus enhancing their business.

Avnet is a global leader in the supply of electronic components and computing products. The company’s broad portfolio of products and services and its continued efforts to ensure maximum consumer satisfaction has helped it to secure a substantial market share in the present scenario.

Avnet faces fierce competition from big players in the semiconductor industry. One of the stalwarts here is Arrow Electronics Inc. (ARW - Free Report) , which remains an immensely formidable rival, especially in the current times. It has recently expanded its cloud portal by introducing field-programmable gate array (FPGA) power solutions for clients in North America, and the Europe, the Middle East and Africa (EMEA) region. In addition, there are several other big players such as Wesco International Inc. (WCC - Free Report) and Anixter International Inc. (AXE - Free Report) in the industry.

The current Zacks Consensus Estimates for the first quarter of fiscal 2013 and for fiscal 2013 are 84 cents and $4.09, representing year-over-year growth of (6.79%) and 0.76%, respectively.

We currently maintain a ‘Neutral’ recommendation on Avnet. The stock carries a Zacks #4 Rank, translating into a short-term (1-3 months) ‘Sell’ rating.

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