Future Is Bright For Cloud Business Says Cisco Systems, Inc (NASDAQ:CSCO)

Posted by Kristi Scott October 17, 2013 0 Comment 1050 views

Cisco Systems, Inc (NASDAQ:CSCO) is a global networking giant. The company says that the future is all about cloud. Today, there is literally an explosion of cloud based network traffic. Apart from the fact that the cloud networking and data center functions are growing in leaps and bounds, the company also projects that a large number of server workloads will shift from conventional servers to cloud by 2014.

On 15 October, Cisco Systems, Inc (NASDAQ:CSCO) issued its Global Cloud Index 2012-2017. In this index, the company forecasts that the global cloud traffic will increase 4 and ½ times. On the whole, Cisco Systems, Inc (NASDAQ:CSCO) says that there will be a three-fold growth in global datacenter traffic, which will touch the 7.7 zettabyte mark on an annual basis by 2017.

Wednesday’s trading

In Wednesday’s trading, Cisco Systems, Inc (NASDAQ:CSCO) dropped by 0.80%. The opening price of the shares was $23.22, which climbed to an intraday high of $23.30 and dipped to a close of $23.00. Approximately 40.48 million shares were traded on Wednesday while an average volume of 32.97 million shares were traded over a 30 day period. The 52-week low of Cisco Systems, Inc (NASDAQ:CSCO) shares is $16.68 and its 52-week high is $26.49. Cisco Systems, Inc (NASDAQ:CSCO) has a market capitalization of $123.82 billion.

About the company

Cisco Systems, Inc (NASDAQ:CSCO) is engaged in designing, manufacturing. The company also sells its products to the Information Technology (IT) and communications industry. It also provides services that are associated with all these products and also their use. Cisco Systems, Inc (NASDAQ:CSCO) provides a range of products that are used for transporting voice, data, and video across open public spaces, inside buildings and across the world. Cisco Systems, Inc (NASDAQ:CSCO)’s products are designed to change the way people connect, collaborate and communicate.

About Kristi Scott

Kristi Scott joined GDP Insider in 2005 as a Wall Street reporter for the Business and Market section. Kristi covers the stock market, financial markets and personal finance. Her awards have come from the National Federation of Professional Writers, the Ohio Newspaper Association, the Cleveland Press Club, the Society of Professional Journalists and Suburban Newspapers of America. Kristi was named SNA's national Journalist of the Year

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