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Cisco Systems (NASDAQ:CSCO) drop puts AI order wave up against valuation pressures
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Cisco Systems (NASDAQ:CSCO) drop puts AI order wave up against valuation pressures
Cisco plunged 4.5% to $113.77, erasing $21 billion in value on heavy volume as FTSE Russell’s reconstitution drove trading; despite the drop, KeyBanc raised its price target to $130, implying 14% upside, but with AI revenue still a small slice of Cisco’s total, investors face pressure to see AI orders convert to revenue amid a volatile tech sector.
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