Cisco Systems Inc. ($CSCO) Stock Forecast: Down 4.5% Today

What is Cisco Systems Inc.?

Cisco Systems (CSCO) is a multinational technology conglomerate renowned for its networking hardware, software, and telecommunications equipment. The company is a prominent player in the communications equipment industry and is publicly traded on the NASDAQ stock exchange.

Why is Cisco Systems Inc. going down?

CSCO stock is down 4.5% on Aug 27, 2024 19:00

• The bearish movement in CSCO stock today may be linked to reports of recent waves of job cuts at Cisco Systems and other Bay Area tech firms, hinting at potential restructuring and cost-saving initiatives that could impact investor confidence.
• Broader market anxiety about the impact of automation and AI on traditional job roles fueled by negative sentiments towards tech job cuts in the Bay Area could have contributed to the sell-off in companies like Cisco Systems.
• Comparative evaluations of Cisco Systems against its industry rivals may have underlined challenges or weaknesses in CSCO's market position within the communications equipment sector, prompting investors to reassess their holdings in the company.
• Insider selling activities in different companies, including Meta, might have impacted market sentiments, as investors might interpret these actions as indications of concerns about the future prospects of these firms, including Cisco Systems.

CSCO Price Chart

CSCO Technical Analysis

CSCO News

How to Best Prepare for the AI Jobs Apocalypse

Whether inspired by science fiction or true technological progress, people have long feared that human workers will one day be replaced by robots or artificial intelligence ( AI ). To some, that future may be generations away. But ever since ChatGPT’s debut in late 2022, AI has progressed at unfathomable speeds. And over the past few quarters, we’ve seen that rapid success translate into stellar earnings for the firms implementing new AI technologies. We’ve also seen increased news headlines about AI and robots taking our jobs. Indeed, Goldman Sachs estimates that AI could replace 300 million full-time jobs. McKinsey Global projects that around 15% of workers globally will have to change careers due to artificial intelligence. OpenAI’s research suggests that about 20% of workers may be at risk to AI-powered automation. Citi sees the technology impacting more than half of all jobs in finance. And according to a recent Conference Board survey, about 50% of CEOs think they’ll eventually replace human labor with AI.

https://investorplace.com/hypergrowthinvesting/2024/08/how-to-best-prepare-for-the-ai-jobs-apocalypse/

New Cisco layoff waves surface as tech job cuts worsen in Bay Area

Fresh waves of job cuts have surfaced at Cisco Systems and other Bay Area tech companies.

https://www.eastbaytimes.com/2024/08/26/san-jose-cisco-tech-economy-jobs-layoffs-intel-amazon-google-facebook/

Industry Comparison: Evaluating Cisco Systems Against Competitors In Communications Equipment Industry - Cisco Systems ( NASDAQ:CSCO )

In the ever-evolving and intensely competitive business landscape, conducting a thorough company analysis is of utmost importance for investors and industry followers. In this article, we will carry out an in-depth industry comparison, assessing Cisco Systems CSCO alongside its primary ...

https://www.benzinga.com/insights/news/24/08/40555411/industry-comparison-evaluating-cisco-systems-against-competitors-in-communications-equipment-indust

Meta, Cisco And 2 Other Stocks Executives Are Selling - Meta Platforms ( NASDAQ:META )

The Nasdaq 100 closed lower by over 300 points during Thursday's session. Investors, meanwhile, focused on some notable insider trades. When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being ...

https://www.benzinga.com/news/24/08/40526278/meta-cisco-and-2-other-stocks-executives-are-selling

Trump Or Harris? 12 Stocks, 2 ETFs Could Win No Matter Who's President, Says Market Strategist - Check Point Software ( NASDAQ:CHKP ) , Boeing ( NYSE:BA )

Market strategist Jay Woods has identified two sectors and several investment opportunities that could thrive regardless of whether Donald Trump or Kamala Harris wins the 2024 election.

https://www.benzinga.com/etfs/sector-etfs/24/08/40515453/exclusive-trump-or-harris-12-stocks-2-etfs-could-win-no-matter-whos-president-says-market-strate

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Cisco Systems Inc. Price History

27.07.2024 - CSCO Stock was down 4.5%

• The bearish movement in CSCO stock today may be linked to reports of recent waves of job cuts at Cisco Systems and other Bay Area tech firms, hinting at potential restructuring and cost-saving initiatives that could impact investor confidence.
• Broader market anxiety about the impact of automation and AI on traditional job roles fueled by negative sentiments towards tech job cuts in the Bay Area could have contributed to the sell-off in companies like Cisco Systems.
• Comparative evaluations of Cisco Systems against its industry rivals may have underlined challenges or weaknesses in CSCO's market position within the communications equipment sector, prompting investors to reassess their holdings in the company.
• Insider selling activities in different companies, including Meta, might have impacted market sentiments, as investors might interpret these actions as indications of concerns about the future prospects of these firms, including Cisco Systems.

15.01.2024 - CSCO Stock was down 0.6%

• Cisco Systems (CSCO) witnessed a significant downward trend in its stock today.
• The company provided lower-than-expected guidance for its third-quarter and FY24 adjusted EPS and sales, contributing to the decline.
• In an effort to prioritize artificial intelligence, Cisco also revealed intentions to streamline operations by reducing its workforce by over 4,000 employees.
• The company cited a combination of weakened demand and a challenging economic climate as factors influencing its decision to revise down its earnings and revenue forecast for fiscal year 2024.
• Overall, the decrease in Cisco's stock value can be attributed to the disappointing guidance and the company's restructuring plans, which reflect concerns about future performance and the demanding market conditions.

15.01.2024 - CSCO Stock was down 2.4%

• The company announced a workforce reduction of over 4,000 jobs, possibly indicating cost-cutting measures and challenges in the telecom industry.
• A below-consensus third-quarter and FY24 adjusted EPS and sales guidance were issued by the company, which could have disappointed investors and contributed to the bearish movement.
• The company also reduced its annual revenue forecast and saw tepid demand for its networking gear, possibly reflecting an industry slowdown.
• The company's stock decline may have been affected by the softer-than-expected guidance and macro uncertainty, leading to a decrease in investor confidence.

15.07.2024 - CSCO Stock was up 6.1%

• Cisco Systems (CSCO) demonstrated a robust bullish trend today, despite the recent disclosure of layoffs and a notable staff reorganization.
• The optimistic market outlook can be linked to encouraging US Retail Sales figures, which allayed concerns about a potential economic downturn and heightened risk appetite among investors in the equities market.
• Analysts consider Cisco as a secure investment option amid uncertain economic conditions, leading investors to potentially allocate funds in the company's stock.
• The company's strategic move towards AI and cybersecurity, coupled with a continual uptrend in stock value subsequent to its earnings report, is believed to have influenced the positive market momentum, notwithstanding the layoffs.

15.07.2024 - CSCO Stock was up 6.9%

• Cisco shares surged by 7.78% following an earnings beat and restructuring plans, marking the best day for the stock since March 2020.
• The announcement of layoffs and a strategic shift towards high-growth areas like AI and cybersecurity contributed to the bullish movement.
• Despite facing a third consecutive quarter of declining revenue, the market reacted positively to Cisco's proactive measures to realign its focus and streamline operations.
• Analysts' reiteration of a neutral rating alongside the positive market response indicates a cautious optimism towards Cisco's future prospects.

15.07.2024 - CSCO Stock was up 7.7%

• Cisco Systems Inc. (CSCO) observed significant bullish momentum, recording a growth of over 10% throughout the session.
• This surge can be linked to Cisco's impressive quarterly earnings performance, surpassing expectations with fourth-quarter revenue of $13.64 billion.
• Furthermore, Cisco's restructuring strategy, involving a 7% reduction in its global workforce to support growth initiatives and streamline operations, bolstered investor confidence in the company's future trajectory.
• Investor optimism towards Cisco was strengthened by its dedication to social impact through partnerships focusing on youth hunger and promoting corporate social responsibility, underscoring a comprehensive approach to achieving business success.

15.07.2024 - CSCO Stock was up 9.7%

• Cisco Systems (CSCO) experienced a strong bullish movement today following its fourth-quarter revenue report beating consensus estimates and showing significant year-over-year growth in product orders.
• The announcement of a 14% increase in product orders, even with adjustments excluding the impact of Splunk, contributed to the positive investor sentiment towards Cisco.
• The market reacted positively to the news of Cisco cutting 7% of its global workforce, which is seen as a strategic move to streamline operations and improve profitability.
• The overall market optimism, fueled by hopes for a Fed rate cut and sustained equity momentum, also played a role in boosting Cisco's stock price today.

15.07.2024 - CSCO Stock was up 9.9%

• Cisco Systems (CSCO) stock surged today following positive developments and market sentiment:
• The company reported fourth-quarter revenue exceeding expectations, showing a 14% year-over-year growth in product orders.
• Despite a decline in revenues year-over-year, the strong performance in the Security and Services segments helped counter weaknesses in the Networking segment.
• Partnership initiatives with Cisco ThousandEyes, including efforts to address youth hunger through community impact events, garnered positive attention and showcased the company's corporate social responsibility endeavors.
• Overall, the combination of solid financial results and impactful community engagement initiatives likely contributed to the bullish movement in Cisco's stock today.

15.07.2024 - CSCO Stock was up 7.1%

• Cisco Systems (CSCO) saw a notable bullish movement during the observed period.
• The robust quarterly financial results were a key factor in boosting market confidence, surpassing projections with fourth-quarter revenue reaching $13.64 billion.
• Despite initial concerns, the decision to streamline operations by reducing 7% of its workforce in favor of expanding into AI and cybersecurity segments did not dampen the overall positive market response.
• Investor optimism towards the company's strategic redirection and cost-saving initiatives propelled the stock price upwards significantly.

15.07.2024 - CSCO Stock was up 6.9%

• Cisco Systems (CSCO) saw a strong bullish movement recently.
• The market responded positively to Cisco's announcement of layoffs and its increased focus on rapidly growing tech areas like artificial intelligence (AI) and cybersecurity.
• Despite the layoffs, investors appear to be optimistic about Cisco's strategic shift and investments in tech startups and AI infrastructure, resulting in the stock's strongest performance since 2020.
• The tech sector's market rally, combined with Cisco's earnings surpassing expectations and its restructuring initiatives, contributed to the overall bullish sentiment surrounding the stock.

15.07.2024 - CSCO Stock was up 6.8%

• Cisco Systems (CSCO) experienced a strong bullish movement following its better-than-expected quarterly performance.
• The announcement of upbeat earnings propelled the stock higher, indicating positive investor sentiment towards the company's performance.
• Additionally, the market's overall bullish sentiment, as reflected in the rise of major indexes and resilient consumer spending, further supported CSCO's upward trajectory.
• Despite the news of job cuts as Cisco shifts focus towards AI and cybersecurity, the market seemed to focus more on the positive earnings report, driving the stock price higher.

15.07.2024 - CSCO Stock was up 6.3%

• Cisco's upbeat fourth-quarter earnings report contributed to the bullish movement, indicating strong financial performance and investor confidence in the company's future prospects.
• The announcement of a 7% reduction in staff numbers, while signaling a strategic shift towards AI and cybersecurity, may have initially raised concerns but was ultimately viewed positively by the market as a move towards more innovative and high-growth areas.
• Analyst sentiment appears divided, with some viewing Cisco as a safe haven in uncertain economic times, while others remain cautious about its long-term growth potential despite the recent positive reaction in the stock price.
• The company's partnerships with tech giants like Nvidia and investments in AI startups demonstrate a commitment to staying competitive in the rapidly evolving tech landscape, potentially driving further investor interest and market optimism.