On June 2, Cisco rose 3.53% in regular trading, trading at $125.94/share, with trading volume of $520 million. The stock was driven higher by a dual catalyst of a new product milestone and an analyst upgrade.

On the news front, Cisco announced that its Cloud Control platform has officially entered the controlled availability stage in the U.S. market, marking a key step in expanding its cloud management product portfolio. The platform aims to provide early access to select enterprise customers for deep testing and feedback collection, with plans to roll out globally following initial validation and optimization in the U.S. This move strengthens Cisco's multi-cloud environment governance capabilities.

Additionally, Bank of America raised its target price on Cisco from $114 to $135, maintaining a Buy rating, citing rapid AI infrastructure expansion driving demand for 800G optical networking equipment, a segment in which Cisco holds over 50% market share. The broader Communication Equipment sector showed strength, with Lumentum up 9.19%, Applied Optoelectronics up 6.76%, and Ciena up 5.85%.

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