Analysts Dissect Cisco's Challenges And Its Path Toward AI Networking
SiliconANGLE , Tuesday, February 27th, 2024
At a time when numerous tech companies are jockeying for a lead position in artificial intelligence, Cisco Systems Inc. has found itself having to play catch-up.
Two analysts from theCUBE Research participated in a briefing at MWC Barcelona on Tuesday in which Cisco's chief executive Chuck Robbins discussed his firm's challenges. Earlier this month, the company announced plans to trim 5% of its global workforce and issued weaker than expected guidance in its earnings report.
'He did admit they've lowered expectations two quarters in a row, which he said they've never done before,' said Zeus Kerravala (pictured, second from right), guest analyst for theCUBE. 'They had heard the noise that a slowdown was coming from customers who said they were having a hard time digesting all the product they bought, but the impact of that was greater than they realized.'