Is Cisco Stock a Buy After Slumping Last Week?
CSCOCisco Systems(CSCO) fool.com·2024-05-21 17:35

Tumbling revenue amid an inventory correction is putting a chill on the stock.Networking hardware giant Cisco Systems (CSCO -2.16%) beat analyst expectations across the board with its quarterly report last week, but the stock was punished, nonetheless. Revenue plunged 13% year over year even with some help from the acquisition of Splunk, and earnings declined by a similar amount.The inventory correction may be wrapping upCisco has been pushing to increase recurring revenue and lower its dependence on one-of ...