Cisco shares sink

Bradley Prior

MyBroadband Journalist
Staff member
Super Moderator
Oct 16, 2018
Cisco shares sink

Cisco Systems Inc. declined the most intraday in more than two years after the company gave a lackluster sales forecast, indicating the U.S.-China trade dispute and a slowing global economy are leading customers to delay updates of their computer networks.

Chief Executive Officer Chuck Robbins is trying to turn Cisco into more of a software and services company, but the transformation is being stymied by the trade war and its impact on corporate spending. [Bloomberg]