Cisco Has AI Potential. Plus, the Stock Is Cheap.
newscatcher
2023-08-18 08:31
Cisco Has AI Potential. Plus, the Stock Is Cheap.
Cisco shares look flat-out cheap. The networking equipment giant's stock has been a laggard in 2023, with a 15% gain on the year, versus the Nasdaq Composite's 27% rally. The stock trades for less than 14 times forward earnings and under 4 times forward sales. And that for a company that offers a nearly 3% dividend yield and is aggressively buying back stock. But the Cisco Systems (ticker: CSCO) story is a complicated one, with a recent business dynamic that can be dizzying to untangle. Cisco sales crumbled in 2020, as the work-from-home trend crushed demand for enterprise hardware, while component shortages reduced the company's ability to fulfill the orders it had.

https://www.marketwatch.com/articles/ai-stocks-cisco-1dddde9b?mod=investing

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