Cisco Systems Stock Soars on AI Networking Demand

Cisco Systems has emerged as one of the top-performing large-cap technology stocks in recent months, driven by strong demand for AI networking infrastructure and solid financial results.

The company's stock has rallied 72.6% over the past 52 weeks, outperforming the broader S&P 500 Index ($SPX) which gained 21.8% over the same period.

Cisco Systems' latest quarterly earnings report on May 13 showed revenue increasing 12% year-over-year to a record $15.8 billion, while non-GAAP earnings per share (EPS) rose 10% to $1.06 and exceeded expectations.

Analysts expect the company's EPS to grow 15.3% year-over-year to $3.54 for the fiscal year ending in July.