Cisco Systems shares rose 6% on Thursday after the networking gear maker lifted its annual revenue forecast on strong AI-driven demand and reassured investors that U.S. tariffs would not have a big impact on its business.

Cisco has a 12-month forward price-to-earnings ratio of 16.23, compared with Arista Networks 43.21. Cisco has gained over 17% in 2024, while ANET has risen more than 87% in the same period. (Reporting by Kanchana Chakravarty and Siddarth S in Bengaluru; Editing by Sriraj Kalluvila)

Cisco Systems (NASDAQ: CSCO) stock is climbing higher in Thursday's trading. The company's share price was up 2% as of 2 p.m. ET. Meanwhile, the S&P 500 index was up 0.5%, and the Nasdaq Composite index was up 0.

Cisco Systems (CSCO) stock hit a multi-decade high earlier, after the company reported better-than-expected results and issued an upbeat forecast