Cisco Systems stock was one of the odd stocks that seemed to have missed the 2020 tech rally, falling 3.5 per cent while the Nasdaq Composite rallied more than 40 per cent. This year, though, shares in the iconic firm, whose history pretty much tracks the growth of the Internet, are up 28 per cent.
Full-year results due in a few days will indicate whether those gains will be sustained. The consensus estimate is calling for fourth- quarter revenue of US$13.04 billion (S$17.7 billion), up 7.3 per cent from the prior-year quarter, and US$49.7 billion for the full year.
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