Cisco stock climbs to $123.07 as analysts expect record revenue
Cisco's stock climbed over 2% to $123.07 on Wednesday, right before its fourth-quarter earnings drop.
Analysts expect the company to post a record $16.82 billion in revenue and $1.17 per share in profits, beating last quarter's numbers.
All eyes are on how Cisco will keep this momentum going, especially with the huge demand for AI-powered networking.
Cisco forecasts Q4 revenue $16.7-$16.9B
Cisco is forecasting fourth-quarter revenue between $16.7 billion and $16.9 billion and strong profits after a solid third quarter, where revenue jumped 12% and product orders soared 35%.
The real buzz? Cisco's nearly 60% stock surge this year, fueled by companies upgrading their networks for AI tech.
With shares nearing an all-time high, everyone's waiting to see what Cisco says next about its future in the AI space.