(CIX: SV150) Web and rank has been keeping a close eye on the Silicon Valley top 150 companies. This list gives you a great idea of the movers and shakers of the IT world. Every two weeks we will publish a news story related to one of these companies in the hope you can learn a little about the IT stock market.
This week we will take a look at Cisco Systems (NASDAQ: CSCO). Cisco Systems has risen quickly through the ranks and now employs 60,000 people and has revenue of US$40 billion. They design and sell consumer electronics, networking and communications technology; I’m sure some of you reading this have a Cisco Systems telephone network in your office.
Cisco profits have been rising nicely but the stock price has pretty much stayed the same. Most companies took a hit during the financial crisis including Cisco but things are now looking on the up for Cisco (this probably has something to do with sales rising 27% in the fourth quarter).
The Cisco Systems stocks closed yesterday at $22.86 after hitting a 52-week low of $19.82 and 52-week high of $27.74. The stock has been looking good at $22.57 but showing resistance in the $23.37 range.
Indicators are showing that the CSCO is strong and looking positive for two reasons. First, Standard and Poor’s, a financial service company and stock market specialist, gives the CSCO a 5 out of 5 STAR strong buy rating. Secondly, CSCO has been included on the Investors Observer Analysts Favourites list.
Web and Rank Silicon Valley 150 advice : The Cisco share price has been bouncing around a lot recently but if you can buy some stock at around $20 or under this is considered a bargain.