Lates News

Citigroup published a research report indicating that Cisco's quarterly performance and outlook announced slightly exceeded expectations. The main positive factors include continued growth in network and data center switch orders, accelerated cloud AI orders from $3.5 billion per quarter to $6 billion, and the beginning of AI order conversion. The bank believes that with most of Cisco's cloud AI revenue not yet accounted for and the launch of multiple products, the future AI business opportunities will increase. The bank slightly raised its earnings forecast for the company by about 2% to 3% for the current and next year. Due to the strong momentum in AI development, the bank raised its target price from $68 to $71, maintaining a "buy" rating.