Cisco posts quarterly gross margin below estimates, shares fall

By Juby Babu Feb 11 (Reuters) - Cisco Systems (CSCO) posted quarterly adjusted gross margin below market estimates on Wednesday, as the networking equipment provider grapples with the ‌fallout of a global memory price increase, sending its shares down 7% in ‌premarket trading on Thursday. The rapid build-out of artificial intelligence infrastructure by U.S. tech firms such as OpenAI, Alphabet and Microsoft has ​absorbed much of the world's memory chip supply, which has lifted prices as manufacturers prio ...