Cisco Stock Roars Back On AI Firepower, Saudi Pact — Bullish Breakout Faces Q3 Earnings Test

Core Insights - Cisco Systems Inc is set to report its third-quarter earnings, with Wall Street anticipating earnings per share of 92 cents and revenue of $14.08 billion [1] - The stock has increased by 25.4% over the past year, although it has seen a decline of 3.87% year-to-date and 6.92% in the last month [1] - Recent trading shows a recovery of 2.53% in the last five days, indicating potential bullish momentum [1][4] Company Developments - Cisco appointed Kevin Weil, Chief Product Officer at OpenAI, to its board, enhancing its AI credibility [3] - The company is expanding its partnership with Saudi Arabia's HUMAIN AI to support the Kingdom's AI infrastructure under Vision 2030 [3] - Collaborations with G42 and the AI Infrastructure Partnership (AIP) in the UAE and the U.S. further position Cisco in the global AI landscape [3] Technical Analysis - Cisco stock is trading at $61.38, above its eight-, 20-, 50-, and 200-day simple moving averages, indicating bullish technical signals [4] - The eight-day SMA is at $60.30, the 20-day at $58.07, the 50-day at $59.13, and the 200-day at $56.79, all below the current price [4] - The Moving Average Convergence Divergence (MACD) is at 0.79, supporting bullish momentum, while the Relative Strength Index (RSI) is at 64.67, indicating it is not yet overbought [5] Analyst Sentiment - The consensus rating for Cisco stock is "Buy," with an average price target of $62.65 [6] - Recent analyst updates suggest a price target of $66.67, indicating an upside of approximately 8.66% from current levels [6]