Could Cisco Stock Surge to $100?
Cisco Systems (NASDAQ: CSCO) is the dominant provider of enterprise networking hardware. Its customer base skews big – think large companies, organizations, service providers, and government agencies.
When faced with uncertainty, those large customers often pause or pull back on spending. Cisco takes a hit when the economic outlook is fuzzy, and it was about as fuzzy as it could be during the pandemic. At the worst point last year, Cisco was seeing revenue declines of nearly 10% on a year-over-year basis. The company's other businesses, like video conferencing service WebEx, couldn't offset tumbling demand for networking hardware.
Things are now starting to look up for Cisco. Revenue soared 7% in Cisco's fiscal third quarter, and the company called for similar growth in the fourth quarter. The downturn for Cisco appears to be over.
Source Fool.com
