1250 ET - Similarities are emerging between Cisco Systems and International Business Machines. IBM was unloved by investors until it started hitting numbers, buying software and posting growth, which has prompted a surge in stock price, Melius Research analysts say in a note. Cisco was similarly overlooked by Wall Street, but the networking-equipment company has struck a better tone in recent quarters, with orders trending upwards and solid gross margins. Now, orders are ramping, and the company's artificial-intelligence strategy is making real progress, analysts say. Shares rise 2.2%, one day after Cisco boosted its revenue outlook for the year, prompted by stronger-than-expected sales in its fiscal 2Q. (connor.hart@wsj.com)
(END) Dow Jones Newswires
February 13, 2025 12:50 ET (17:50 GMT)
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