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Cisco: bullish forecasts
2021-02-08 • Updated
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.
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.
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).
Don't know how to trade stocks? Here are some simple steps.
- First of all, be sure you’ve downloaded Metatrader 5or FBS Trader app. FBS allows you to trade stocks only through this software.
- Open the MT5 account in your personal area(an account in FBS Trader).
- Start!
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