Cisco (CSCO) Could Present Opportunity Even With Reduced Outlook

Cisco Systems (CSCO) is likely not a buy here, notes Frances Newton Stacy. She and William Kerwin discuss CSCO as shares plunge after a reduced outlook. CSCO’s FY24 EPS guidance is now $3.87-$3.93 from $4.01-$4.08 and revenue is now $53.8B-$55.0B from $57.0B-$58.2B. They talk about why CSCO stock could present an opportunity. Kerwin highlights that CSCO could see FY24 as more of a correction year. He mentions that he continues to like the company’s moat, profitability, and shareholder returns for long-term investors. They then go over names to watch in the networking segment. Tune in to find out more about the stock market today.