Cisco teases networking announcement, stock soars
Cisco stocks have enjoyed their biggest boost in over a year, as markets prepare for the firm to unveil a major networking deal later today.
The company's stock on the NASDAQ rose $0.92 to $26.13, the largest increase on NASDAQ in five months, after the firm revealed it would be making a significant announcement at 8am PST (4pm GMT) today, Bloomberg said.
Cisco is remaining tight-lipped about what the announcement will entail, except to say that it will “forever change the Internet and its impact on consumers, businesses and governments.”
Analysts told Bloomberg they expected Cisco to unveil a router capable of transmitting internet traffic at 2Tbps per device, or 120Gbps per slot.
Cisco believes the market for high-speed internet equipment is developing, due to the 1Tbps trials being conducted by Google and others, the analysts said.