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Cisco Systems Inc. has reported a significant increase in product orders as customers invest in AI infrastructure. The company anticipates revenue between $13.75 billion and $13.95 billion for the upcoming fiscal quarter, surpassing analyst expectations. Despite this positive outlook, Cisco's shares fell by about 3% in after-hours trading.
The latest quarterly report revealed a 20% rise in product orders year-over-year, indicating a recovery from previous inventory issues. Cisco's CEO emphasized the company's unique position to benefit from the growing demand for AI-related infrastructure. The overall revenue forecast for the year has also been adjusted upward, reflecting confidence in continued growth.
• Cisco anticipates significant revenue growth driven by AI infrastructure investments.
• Product orders increased by 20% as demand for AI solutions rises.
AI refers to the simulation of human intelligence in machines, which is driving Cisco's product demand.
Infrastructure in this context refers to the foundational technology systems that support AI applications.
Product orders indicate the demand for Cisco's offerings, reflecting a shift towards AI-related technologies.
Cisco Systems specializes in networking and cybersecurity solutions, crucial for AI infrastructure development.
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