By BigGo Finance
Publication Date: 2026-09-23 03:05:00
Cisco shares tumbled 4.5% on September 22, closing at $106.44, after investment bank Piper Sandler lowered its price target on the networking equipment giant from $132 to $125, citing concerns that industry growth may be approaching its peak and raising doubts about the sustainability of the AI infrastructure boom.
Piper Sandler analyst James Fish maintained a “Neutral” rating on Cisco in his report but reduced expectations for the price-to-earnings multiple. He noted that market concerns are growing that the networking equipment industry’s growth momentum may have already peaked, with Cisco’s revenue growth rate potentially decelerating from its current high-growth trajectory back to single-digit levels.
Cisco shares hit an all-time high of $130.37 in June, having rallied approximately 57% to 58% over the past 12 months, driven primarily by global tech giants aggressively ramping up AI capital expenditures. The company reported strong fourth-quarter results last month, with…
