Tal Liani: We are in an infrastructure cycle boom driven by AI and data growth

Investment Recommendation - The firm has a buy rating on Cisco stock with a $76 price target, representing an approximate 5% increase from the current trading price [1][2] - The current price target may be adjusted based on the upcoming earnings report and future expectations [3] - Investors have the option to consider further upside potential or determine if the stock has reached its peak [4] Market Dynamics and Growth Drivers - The industry is experiencing an infrastructure cycle, evidenced by positive results and raised guidance from companies like Arista and Sienna [1] - Cisco's cloud orders doubled last quarter, increasing from $350 million to $600 million, with expectations for continued growth [2] - The infrastructure cycle is expected to drive revenue, profits, and share prices [2] - AI and data growth are key drivers of the infrastructure boom, extending beyond cloud [7] Networking Segment Performance - Networking accounts for approximately 70% of Cisco's product revenues [5] - Order growth in networking has been outpacing revenue growth in recent quarters [6] - Revenue growth in networking is expected to accelerate this quarter, with guidance anticipated to increase in subsequent quarters due to strong historical order growth [6]