Watch Of The Week: Cisco
Portfolio Pulse from Thrash Capital
Cisco (NASDAQ:CSCO), an old-school technology stock, is outperforming the S&P 500 this year with a 17% increase. The company reported a 16% YoY revenue increase in its earnings report on August 16th, and has acquired two cybersecurity companies, Smartlook and Lightspin, to expand its presence in the security space. The stock's monthly chart shows potential resistance at $58, with possible future increases to $60 and $64.
August 29, 2023 | 2:53 pm
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POSITIVE IMPACT
Cisco's strong performance and strategic acquisitions in the cybersecurity space could potentially drive its stock price up.
Cisco's strong performance, as evidenced by its 17% increase this year and its 16% YoY revenue increase, along with its strategic acquisitions in the cybersecurity space, could potentially drive its stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
NVIDIA was mentioned in comparison to Cisco, but no specific news or events were reported.
NVIDIA was mentioned in the article only in comparison to Cisco, with no specific news or events reported that would impact its stock price.
CONFIDENCE 100
IMPORTANCE 20
RELEVANCE 20