Cisco Systems (NASDAQ:CSCO) stock has popped sharply and moved to a record high as demand for its products jumped. It has soared by 55% this year and 87% in the last 12 months. In contrast, the S&P 500 Index is up 7.7% this year and 26% in the last 12 months.
Cisco Stock Has Jumped Amid Resilient Demand
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Cisco, a top player in the networking industry, has experienced strong demand as the biggest technology companies have boosted their capital expenditure plans as the artificial intelligence (AI) boom continued.
The most recent Cisco earnings showed that its AI business continued thriving, with orders rising to $5.3 billion. It boosted its AI order guidance from $5 billion to $9 billion.
