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Software-as-a-Service Stocks Save Nasdaq From Cisco Swoon

TheMotleyFool

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Software-as-a-Service Stocks Save Nasdaq From Cisco SwoonPhoto, wide shot, wide-angle lens, Semiconductor company, sunset photo at golden hour, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/92ce44e9-64c7-4458-9a95-b706ed510490.png

The Nasdaq Composite (NASDAQINDEX: ^IXIC) held up well on Thursday, keeping its big gains from Wednesday even as other major benchmarks gave up ground. At 3:30 p.m. EDT, the index was up 44 points to 11,055, while the Nasdaq-100 climbed higher by 36 points to 11,194.

Ordinarily, a 12% drop in shares of tech giant Cisco Systems (NASDAQ: CSCO) would have been enough to send the Nasdaq falling sharply. Yet elsewhere in technology, stocks of companies using software-as-a-service (SaaS) business models fared extremely well and offset some of Cisco's losses.

Image source: Getty Images.

Source Fool.com

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