Cisco stock was falling on Thursday, down roughly 2.5% after the technology pioneer reported mixed results in its fiscal first quarter. The technology pioneer that was once the most valuable company in the world back in 2000 has much less cache among investors these days, trading at around $58 per share. The mixed results in the quarter stem from the fact that Cisco beat earnings and revenue estimates but posted year-over-year declines.
“Findings from our new global AI partner study show that IT partners around the world are anticipating a transformative wave of AI technology demand driven by infrastructure, cybersecurity, and customer experience, which they expect to fuel the majority of their revenue over the next four to five years,” Robbins said on the call.
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