Cisco beat earnings, but when will it start to 'augment' growth?

Morningstar Equity Analyst William Kerwin calls demand slumps for Cisco up until now a symptom of the"COVID hangover" and may take another quarter for demand to fully stabilize.

And so we've been calling this a bit of a COVID hangover if you will, for that networking demand, we think it'll come back uh in 2025 but probably another quarter or so here of that weakness. But Cisco's organic security and observable businesses have been under performing peers and the broader cybersecurity market for a few years now.

And so that's a big number, but against a, you know, roughly $50 billion top, we don't think it will be a significant contributor to overall firm results in the medium term.

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