CSCO’s shares have declined 3.8% since the results were reported on November 17, to close yesterday’s trading session at $55.30. This is primarily because due to the company’s tepid guidance provided by the company. CSCO expects $0.64 – $0.68 per share in profit, or $0.80 – $0.82 on an adjusted basis, for its fiscal second quarter.
Nevertheless, hedge funds have grown more bullish on the stock. Also, consistent improvements in the Internet of Things (IoT) and 5G are expected to boost CSCO’s growth prospects.