Where's the bottom. All was fine yesterday, but today begs to differ. What a bunch of clowns at the helm.
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Inflation adjusted revenue is still down from FY2023 not including Splunk which came in after that and should have added another $4B. Cisco will continue to under perform itself from years ago.
Arista Networks' revenue has grown by leaps and bounds over that same time frame even accounting for inflation.
Buy the dip.
@aq Arista has not had any major layoffs in recent years, and it did not lay off any employees from VeloCloud following the acquisition.
Arista Networks is surging more than 10% after reporting earnings. 🚀
If we zoom out, over the past year CSCO is still up by 23%, but as we can see on the graph below, this is largely due to broader market movements within the technology space. It was over the past month or so when CSCO's performance broke away from that of the Nasdaq Composite Index and its stock price skyrocketed. This short-term outperformance, however, is now being questioned after the release of the Q2 report.
https://seekingalpha.com/article/4869565-cisco-q2-earnings-the-wrong-way-to-get-on-the-ai-bandwagon
This is nothing more than an expected sell off after a hefty run.
So, people taking a bit of profit. Any serious investor knows. this.