In a provocative challenge to traditional economic anxieties, top economist Justin Wolfers is reframing the widening U.S. trade gap not as a fiscal failure, but as an enormous physical “surplus” that signals a historic boom in American material wealth.The ‘Stuff’ SurplusWhile the U.S. Census Bureau announced a sharp rise in the goods and services deficit to $70.3 billion for December 2025, Wolfers argues that the public is looking at the ledger backward.“The U.S. has an enormous trade surplus with the rest ...

Group 1 - Cisco Systems, Inc. (NASDAQ:CSCO) is considered one of the most undervalued tech giants, with a 'Buy' or equivalent rating from over half of analysts covering the stock, indicating a median one-year price target of $86.50, representing a 10.84% upside potential [1] - Morgan Stanley raised the price target for Cisco to $91 from $82 while maintaining an 'Overweight' rating, suggesting an upside potential of approximately 17% relative to the current price [2] - Cisco announced that shareholders approved an amended version of the company's 2005 Stock Incentive Plan, increasing the number of authorized shares by 57,490,000 [4] Group 2 - Analysts suggest that the AI trade has expanded beyond semiconductor names, favoring infrastructure names, particularly in the optical sector, which could benefit Cisco [2] - There is a note of caution that investors may need to be more selective for full-year returns in the optical sector, indicating a potential shift in investment strategy [3]

Core Insights - Cisco Systems Inc. is recognized as a strong slow growth stock, with UBS raising its price target to $90 from $88 while maintaining a Buy rating following a quarterly earnings beat and improved forecast driven by demand from hyperscale customers and AI infrastructure investments [1][2] Financial Performance - Cisco reported earnings of $1 per share, surpassing its own projection of $0.97 to $0.99, primarily due to a 15% year-over-year increase in its Networking division [2] - The company aims for a long-term revenue growth target of 4%-6% for fiscal years 2026 and 2027, supported by the traction of its next-generation Campus solutions [2] Company Overview - Cisco Systems Inc. designs, manufactures, and sells networking hardware, software, and telecommunications equipment, providing essential infrastructure for businesses and communities in the digital age [3]