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Should You Buy Cisco on its Post-Earnings Dip? -Breaking

by Mike Robinson

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Cisco’s Post-Earnings Dip: Should you Buy It?

Cisco’s (CSCO) shares have declined by nearly 4% in price since the company reported its fiscal first-quarter results on November 17 with weaker guidance. So, the question is, is it wise to bet on the stock now on the back of the company’s consistent product and services innovations? Let’s find out.Cisco Systems, Inc. (NASDAQ:) in San Jose, Calif., is a well-known technology company that designs, manufactures, and sells internet protocol-based networking and other products related to the communications and information technology industry. The company’s total revenue increased 8.1% year-over-year to $12.90 billion for its fiscal first quarter, ended October 30, 2021. Its revenue was slightly below the consensus estimates. Although its net income rose 37.1% to $2.98 Billion, it saw its earnings rise 37.3% annually. However, the EPS was $0.70.

CSCO’s shares have declined 3.8% since the results were reported on November 17, to close yesterday’s trading session at $55.30. CSCO’s timid guidance has largely contributed to this drop in shares. CSCO anticipates $0.64-$0.768 per share of profit or $0.80- $0.82 adjusted for the fiscal second quarter.

However, hedge funds continue to be more optimistic about CSCO’s stock. Also, consistent improvements in the Internet of Things (IoT) and 5G are expected to boost CSCO’s growth prospects.

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