AI and the Upgrade of Networks Provide Cisco Systems with the Foundation for Further Rising Prices. Evercore ISI Upgrades and Raises the price target to $100 (+35%)

Cisco Systems (CSCO) is currently defining itself as one of the architects of AI infrastructure. Cisco provides the critical networking without which no AI cluster can operate. Strategically, Cisco occupies two key positions: Cisco supplies specialized hardware (Silicon One chips, 800G optics, 8223 routers) to major cloud providers (AWS, Azure, Meta) to network their massive AI training clusters. Furthermore, Cisco is modernizing outdated corporate networks for companies that want to utilize AI ("Inference"). Only a modern, secure network can handle...