On June 12, Cisco rose 3.01% in regular trading, trading at $122.38/share, with turnover of $1.91 billion. The stock rebounded alongside broader strength in the communication equipment sector following recent weakness caused by a product security vulnerability disclosure.

On the news front, Bank of America recently raised its target price for Cisco from $135 to $150, maintaining a Buy rating, citing strong AI-driven networking demand. At the Cisco Live conference earlier this month, management highlighted that AI agents generate 450% more data traffic than manual operations, projecting global network traffic to triple within three years, with 90% of enterprise customers indicating infrastructure upgrade needs. The companys AI orders grew from $1.3 billion to $2.1 billion, while its Acacia optical business saw AI-related revenue surge nearly fourfold.

Within the Communication Equipment sector, the overall trend was positive. Among peers, Nokia Oyj rose 5.11%, Lumentum rose 4.26%, Arista Networks rose 3.24%, Ciena rose 2.54%, while Applied Optoelectronics fell 0.36%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)