Cisco Systems Sees Strong Demand for AI Infrastructure Orders

Cisco Systems, Inc., a network equipment provider, has been gaining traction in the market. According to its latest disclosure with the Securities and Exchange Commission, Worth Asset Management LLC acquired a new position in Cisco Systems during the second quarter. The fund purchased 16,842 shares of the company's stock, valued at approximately $1,978,000.

This represents about 0.6% of Worth Asset Management LLC's holdings, making it the company's 29th largest holding. Other large investors have also increased their stakes in Cisco Systems, with Brighton Jones LLC growing its holdings by 49.5% in the fourth quarter and Revolve Wealth Partners LLC increasing its position by 37.0% during the same period.

Cisco Systems has been benefiting from strong demand for its AI infrastructure order forecast, which it raised to approximately $9 billion. This reflects a significant increase from its initial estimate of $5 billion. The company expects to recognize about $4 billion in related revenue, compared to its total fiscal-year revenue guidance of $62.8 billion to $63.0 billion.