机构观点 2026年1月27日，Evercore将思科评级从"与大盘持平"上调至"跑赢大盘"，目标价从80美元提高至100美 元。该机构指出，思科受益于AI业务增长(预计2026财年AI收入约30亿美元)和八年一度的企业网络升级 周期，预计未来将维持高个位数营收增长。 股票近期走势 经济观察网思科发布2026财年第一季度财报，营收及每股收益均超预期，并上调全年业绩指引，主要受 益于AI网络设备需求增长和传统业务升级周期。 2026年1月30日，思科成交额为20.71亿美元，股价报78.32美元，当日跌幅0.14%，但过去52周累计上涨 29.24%。市场对思科AI订单增长(第一财季AI基础设施订单达13亿美元)和毛利率扩张持积极态度。 业绩经营情况 在2025年11月13日，思科发布2026财年第一季度财报，营收同比增长8%至149亿美元，非GAAP每股收 益1.00美元，均超出市场预期。公司同时上调全年业绩指引，预计2026财年营收区间为602亿至610亿美 元，非GAAP每股收益区间为4.08至4.14美元，反映出AI网络设备需求增长和传统业务升级周期的推 动。 以上内容基于公开资料整理，不构成投资建议。 ...

Group 1: Core Insights - Cisco is set to launch its new AI network chip, Silicon One G300, on February 10, 2026, directly challenging Broadcom and NVIDIA in the AI infrastructure market [1] - The chip, manufactured using TSMC's 3nm process, boasts a performance of 102.4 Tbps, expected to enhance AI computing task speeds by 28% and optimize energy efficiency [1] - Analysts suggest this move could drive the AI networking industry towards Ethernet standards, positively impacting Cisco's long-term competitiveness [1] Group 2: Stock Performance - Over the past week (February 4 to 10, 2026), Cisco's stock (CSCO.OQ) experienced a price fluctuation of 3.83%, reaching a high of $88.19 and a low of $80.81 [2] - The closing price on February 10 was $86.29, reflecting a decrease of 0.56%, with a trading volume of approximately $2.79 billion [2] - The Hong Kong stock of Cisco (04333) remained stable at 580 HKD with light trading activity [2] Group 3: Financial Report Analysis - Cisco's Q2 FY2026 financial report is forthcoming, with Wall Street consensus rating at "strong buy" (11 buy, 3 hold) [3] - Evercore reports that AI orders are expected to remain stable at around $1.3 billion, accounting for 20% of the fiscal year target of $6.2 billion, though caution is advised regarding potential slowdowns in cloud service provider investments [3] Group 4: Institutional Perspectives - Evercore analyst Amit Daryanani reiterated a "buy" rating on February 9, 2026, with a target price of $100, highlighting that Cisco's AI solutions, including the Silicon One chip and optical modules, are likely to benefit from infrastructure development trends [4] - The average target price for Cisco is set at $90.80, with a dividend yield of 2.1% [4]

Core Insights - Cisco has launched a new networking chip, Silicon One G300, designed to accelerate information transmission within large data centers, potentially competing directly with products from Broadcom and NVIDIA [1][2] - The Silicon One G300 chip can deliver 102.4 Terabits per second, powering AI clusters at gigawatt scale, enhancing GPU utilization, and improving task completion time by 28% [1] - Cisco's new systems, N9000 and 8000, will utilize the Silicon One G300 chip and are tailored for hyperscale cloud providers, emerging cloud services, sovereign clouds, service providers, and enterprise customers [1] - The new systems will feature a 100% liquid cooling design, combined with new optical technologies, aiming to improve energy efficiency by nearly 70% [1] - Cisco has enhanced its Nexus One data center network architecture to facilitate easier operation of AI networks for enterprises, whether on-premises or in the cloud [1][2] Industry Context - As AI training and inference scale up, data movement has become critical for efficient AI computing, with networks now considered part of the computing infrastructure [2] - Cisco's Silicon One G300 chip is designed to provide high-performance, programmable, and deterministic network experiences, enabling customers to fully leverage their computing resources securely and reliably in production environments [2] - NVIDIA recently announced its next-generation AI computing platform, Vera Rubin, which includes key networking and infrastructure components, while Broadcom has begun shipping its Tomahawk 6 series switching chips [2] - Cisco has introduced a series of features to help enterprises securely adopt AI technologies while maintaining the integrity of AI agents and control over agent interactions [2] Security Features - AI Bill of Materials: Provides centralized visibility and governance for AI software assets, including model context protocol servers and third-party dependencies, to ensure AI supply chain security [3] - MCP Catalog: Discovers, inventories, and helps manage risks associated with MCP servers and registries across public and private platforms, enhancing AI governance [3] - Advanced Algorithm Red Team Testing: Expands the scope of AI security assessments [4] - Real-time Agent Safeguards: Ensures the security of agents and applications [4]

Group 1 - Dow futures rose by 0.09%, S&P 500 futures increased by 0.10%, and Nasdaq futures gained 0.07% [1] - Philips reported Q4 2025 earnings with a 1% year-over-year sales increase to €5.1 billion and an adjusted EBITA of €770 million, exceeding market expectations, leading to a 6.89% stock increase [2] - Cisco launched a new AI network chip, "Silicon One G300," expected to enhance AI computing task speeds by 28%, utilizing TSMC's 3nm process technology [2] Group 2 - Alphabet, Google's parent company, initiated its first issuance of Swiss franc bonds and British pound bonds, with maturities ranging from 3 to 100 years [2] - TSMC reported January sales of NT$401.26 billion, a 36.8% year-over-year increase and a 19.8% month-over-month rise, leading to a 3.09% stock increase [2] - BP's Q4 earnings showed a benchmark replacement cost profit of $1.54 billion, aligning with analyst expectations, but the full-year net profit of $7.49 billion fell short of the $7.58 billion forecast, resulting in a 4.9% stock decline [2] Group 3 - AstraZeneca's 2025 total revenue reached $58.739 billion, an 8% year-over-year increase, with growth in biopharmaceuticals, oncology, and rare diseases, and plans for significant investment in China [3] - AppLovin's stock rose by 3.5% after a short-seller retracted allegations against a major shareholder, ensuring the protection of legal rights [3] Group 4 - Eli Lilly announced a $2.4 billion acquisition of Orna Therapeutics to gain CAR-T therapy technology, aiming to produce cells in vivo rather than in the lab [4] Group 5 - Optical communication stocks saw a pre-market surge, with Redo Technology up over 17%, Astera Labs rising over 5%, and Corning increasing by over 1% [5]

Core Insights - Cisco has launched a new chip and router aimed at accelerating information transmission in large data centers, competing for a share of the $600 billion AI infrastructure spending market [1][2] Group 1: Product Launch - The Silicon One G300 switching chip is expected to be released in the second half of this year, designed to efficiently interconnect AI system training and operational chips through hundreds of thousands of links [1][2] - The chip will be manufactured using TSMC's 3-nanometer process and will feature new "buffer dampening" characteristics to prevent network congestion during spikes in data traffic [1][2] Group 2: Performance Expectations - Cisco anticipates that the new chip could enhance the speed of certain AI computing tasks by 28%, partly due to its ability to automatically reroute data around network failures in microseconds [1][2] - The focus is on overall end-to-end network efficiency, especially when dealing with tens of thousands of connections, which frequently encounter congestion issues [1][2] Group 3: Competitive Landscape - The networking sector has become a critical competitive arena in the AI field, with Nvidia recently releasing a system that includes a network chip among its six core chips, directly competing with Cisco's products [1][2] - Broadcom is also competing in the same market with its "Tomahawk" series of chips [1][2]

Core Viewpoint - Cisco has launched a new chip and router designed to accelerate data transmission in large data centers, with the "Silicon One G300" switch chip expected to enhance the speed of certain AI computing tasks by 28% [1] Group 1 - The "Silicon One G300" switch chip is anticipated to be available in the second half of this year [1] - The new technology aims to address the growing demands of data centers, particularly in relation to AI applications [1]

根据内部信，葛群经过深思熟虑后决定离开新思科技，休息一段时间照顾家人、陪伴家人。 在新思科技近二十年的职业生涯中，葛群一直是新思科技中国战略的奠基人之一。他明确了发展方向，并将其转化为严谨的市 场推广策略，同时协调跨部门团队执行，推动业务增长，成功应对了复杂的地缘政治环境。 葛群的稳健领导在调动团队和合作伙伴，最终促成了对Ansys收购的成功完成。他还提升了新思科技中国品牌形象，塑造了清晰 的品牌故事，在业内积累了良好的声誉，并在市场上树立了统一的声音。 姚尧自2017年加入新思科技以来，在中国销售部门一路晋升，担任过多个职位，近期担任中国区销售副总裁。他在客户管理和 知识产权运营方面拥有深厚的专业知识，并在建立高效的客户关系和在重点客户中超额完成收入目标方面业绩出色。 芯东西（公众号：aichip001） 作者 | ZeR0 编辑 | 漠影 芯东西2月9日报道，全球EDA巨头新思科技发内部信宣布，新思科技全球资深副总裁、中国区董事长兼总裁葛群即将离职，姚 尧将担任新思科技中国区临时销售负责人，并将加入新思科技市场拓展团队。 ...

Group 1 - Morgan Stanley raised Cisco's target price from $90 to $95 [1]

本文源自：金融界AI电报 摩根大通：将思科(CSCO.O)目标价从90美元上调至95美元。 ...

思科(CSCO.US)将于周三美股盘后公布2026财年第二季度业绩。华尔街分析师预测，每股收益为1.02美元， 同比增长8.5%。营收预计将达到151.2亿美元，较去年同期增长8.1%。 分析师预计，网络产品业务的营收可能达到77.4亿美元，同比增长13%;可观测性产品业务营收将达到 2.9826亿美元，同比增长7.7%;安全产品营收为21.5亿美元，同比增长2%。其次，分析师预测，合作产品营 收将达到9.8425亿美元，同比下降1.2%。 思科2024财年的盈利和营收均出现下滑，但从2025财年开始实现同比增长。该公司去年11月公布财报后， 股价大幅上涨。截至10月底的季度，每股收益增长10%至1美元，营收增长8%至149亿美元。其中，网络业 务增长最快，增长15%至78亿美元。 在互联网泡沫破裂后的多年停滞之后，思科的复苏得益于其成功的业务多元化，通过收购Webex、 AppDynamics和Splunk等公司，成功实现了从网络硬件到软件和服务领域的多元化发展。此外，过去一年 来，思科的股价表现优于大盘，持续受益于人工智能投资周期，其中最引人注目的是其获得了13亿美元的 人工智能基础设施订单。 投资者将关 ...