Cisco's valuation is an attractive buying opportunity, according to Morgan Stanley.
Cisco (NASDAQ: CSCO ) is among the large-cap tech stocks that investors may not necessarily pay as close attention to as, say, others in the so-called “Magnificent Seven.” However, the company is seeing significant attention today, with the latest round of Cisco layoffs reportedly set to be carried out soon.
The outlook for CSCO stock depends on trends for cloud computing, plus corporate and telecom networks amid the shift to remote work.
Cisco Systems Inc CSCO is set to report its fourth-quarter earnings after market hours on Wednesday.
Cisco's (CSCO) fourth-quarter fiscal 2024 performance is likely to reflect sluggishness in the networking domain, partially offset by growth in the Security business.
Cisco Systems is set to report earnings this Wednesday. I have low expectations for this quarter given recent layoffs and the weak IT spending cycle. I remain optimistic in the longer term thanks to a high-quality business model, attractive valuation, and growing software and cybersecurity operations.
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Cisco (CSCO) has been suffering from sluggish networking sales due to lackluster demand and stiff competition offset by a strong and innovative portfolio as well as partner base.
The layoffs are the latest in the tech industry, which has been cutting costs this year to offset big investments in AI.
Cisco will cut thousands of jobs in a second round of layoffs this year as the U.S. networking equipment maker shifts focus to higher-growth areas, including cybersecurity and AI, people familiar with the matter said.
Beyond analysts' top -and-bottom-line estimates for Cisco (CSCO), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended July 2024.
The tech sector has been an area of strength for many years. It's propelled the S&P 500 and the Nasdaq Composite to new heights.