Cisco Stock Is Finally Pricing In A New Growth Story | Trefis

Management put a much higher number on its future, and the stock has been on a tear ever since. But is this a fleeting AI boom or a fundamental rewiring of the business?

For years, owning Cisco (CSCO) was a bet on stability, not speed. But on May 13, 2026, management did something to change that narrative: they raised full-year guidance for both revenue and earnings per share. The market, it seems, was waiting for permission to believe. The stock has climbed roughly a fifth since that day, easily outpacing the S&P 500. The driver behind that confidence is a forecast so large it feels like a throwback to a different era: management now expects to take AI infrastructure orders of approximately $9 billion from hyperscalers in fiscal year 2026. The question for you is simple: what exactly is the market buying with this rally, and is there any fuel left in the tank?

What’s Behind That $9 Billion AI Forecast?

This forecast is backed by…