Cisco: bullish forecasts

Cisco: bullish forecasts

2021-02-08 • Dikemaskini

What happened?

Cisco will publish its earnings report in the night of February 9-10. To be precise, February 10, 00:30 MT time(GMT+2).

Cisco is an American multinational tech company, headquartered in Silicon Valley. The major part of its revenue comes from networking infrastructure platforms (switches and routers). Elsewhere, the company develops software-as-a-service (SaaS) solutions for security and analytics. As a result, Cisco is a one-stop center for all networking needs.

Unlike other tech companies, Cisco has been hit hard by the Covid-19 pandemic. The increased demand for cloud services has cut interest in Cisco’s hardware. It has already shifted its focus on cloud services and subscription-based software. However, it hasn’t brought any benefits so far to the company.

2021 should be more successful for Cisco as demand for its hardware should return to pre-pandemic levels amid the overall recovery. Notably, a large US pension fund has invested in Cisco stock recently.

How to trade on earnings report? 

Analysts expect Cisco to earn 76 cents per share on revenue of $11.92 billion.

  • If the actual earnings are greater than the estimates of $0.76, Cisco will rise.
  • If the actual earnings are less than the estimates of $0.76, Cisco will drop.

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Check earnins calendar

Technical analysis

If the price surges above the key psychological mark of $50.00, the way up to the high of August 2019 at $53.00 will be clear. On the flip side, the breakout below the recent low of $44.00 will drive the stock price to the next support of $42.00.

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You can also trade Cisco stock with FBS Trader mobile app. Remember that stock trading starts as the US session begins (at 16:30 MT time). 

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Don't know how to trade stocks? Here are some simple steps.

  1. First of all, be sure you’ve downloaded Metatrader 5or FBS Trader app. FBS allows you to trade stocks only through this software.
  2. Open the MT5 account in your personal area(an account in FBS Trader).
  3. Start!

TRADE NOW

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