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00:02Cisco Systems shares have fallen sharply ahead of its upcoming earnings report,
00:07dropping from a record high of $130 in June to $93.85, according to Benzinga.
00:15Its market capitalization has fallen from $511 billion to $369 billion,
00:22ahead of an earnings report expected to provide more insight into revenue growth.
00:26Analysts expect quarterly revenue to rise 21.7% to $18.12 billion,
00:34driven by continued demand for AI networking solutions.
00:38Cisco previously reported an 18% revenue increase to $17.3 billion,
00:44with AI infrastructure revenue from hyperscalers reaching $4 billion.
00:48The company expects that figure to hit $7.5 billion this fiscal year.
00:53Meanwhile, options data points to heightened volatility following earnings.
00:58Technical indicators suggest further downside,
01:01with potential support at $88.32 and a possible rebound toward $100.
01:08For all things money, visit Benzinga.com.
01:11For all things money, visit Benzinga.com.
01:11For all things money, visit Benzinga.com.
