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Cisco Systems Inc. (CSCO) received European Union (EU) regulatory approval for the networking equipment maker's $28 billion purchase of cybersecurity firm Splunk Inc. (SPLK).
Cisco Systems won unconditional EU antitrust approval for its $28 billion bid for cybersecurity firm Splunk on Wednesday after EU regulators said they did not see any competition issues.
Tech stocks continue to outperform. The Nasdaq index is up nearly 10% this year compared to an 8% increase in the benchmark S&P 500 index and a 3% gain in the blue-chip Dow Jones Industrial Average.
Cisco has partnered with Nvidia to help enterprises deploy AI infrastructures more rapidly while its acquisition of Splunk could be completed by the middle of this year. Nvidia's witnessing high demand for its H100 GPUs also plays to the advantage of Cisco's hyperscale-over-Ethernet AI switch and I identify around $3 billion of sales opportunities. The Splunk acquisition should help grow the topline as the cybersecurity market adapts to new dynamics because of the high cost of capital.
Cisco Systems has been left behind in the market dominated by AI, but it is a misunderstood company with potential. Despite facing competition and being perceived as "dead money," CSCO has a solid financial foundation and strong operational performance. CSCO is like a technology utility, offering a low-single-digit yield, dividend growth, and potential for future growth.
I recently polled my followers on X: Are we in a stock market bubble? The poll has 6,700 votes and counting and the results are very interesting.
Nvidia investors have been enjoying huge gains, much like Cisco investors did 25 years ago. The biggest potential risk Nvidia faces is similar to the one that hurt Cisco.
Cisco (CSCO) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Cisco Systems Inc (NASDAQ: CSCO) is in focus today following a report that the European Commission is set to unconditionally approve its $28 billion deal with Splunk Inc (NASDAQ: SPLK).
The outlook for CSCO stock depends on trends for cloud computing, plus corporate and telecom networks amid the shift to remote work.