Exclusive-Cisco to lay off thousands more in second job cut this year, sources say By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 09 2024
0mins
Should l Buy CSCO?
Source: Investing.com
Cisco Layoffs: Cisco is set to announce a second round of layoffs, potentially affecting thousands of employees, as it shifts focus towards higher-growth sectors like cybersecurity and AI, following earlier layoffs of 4,000 in February.
Industry Context: The tech industry has seen significant job cuts this year, with over 126,000 layoffs across 393 companies, as firms like Intel also reduce their workforce to manage costs amid heavy investments in AI.
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Analyst Views on CSCO
Wall Street analysts forecast CSCO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CSCO is 89.36 USD with a low forecast of 76.00 USD and a high forecast of 100.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
14 Analyst Rating
10 Buy
4 Hold
0 Sell
Moderate Buy
Current: 82.360
Low
76.00
Averages
89.36
High
100.00
Current: 82.360
Low
76.00
Averages
89.36
High
100.00
About CSCO
Cisco Systems, Inc. designs and sells a range of technologies that power the Internet. The Company is integrating its product portfolios across networking, security, collaboration, applications and cloud. The Company's segments include the Americas; Europe, Middle East, and Africa (EMEA), and Asia Pacific, Japan, and China (APJC). Its Networking product category represents its core networking technologies of switching, routing, wireless, fifth generation (5G), silicon, optics solutions and compute products. Its Security product category consists of its cloud and application security, industrial security, network security, and user and device security offerings. Its Collaboration product category consists of its meetings, collaboration devices, calling, contact center and platform as a service (CPaaS) offering. Its Observability product category consists of its full stack observability offerings.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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