Cisco announcement to "forever change the internet"

Cisco shares rose steeply today on the back of news of an important Cisco announcement that it claims will “forever change the Internet.” Cisco stock closed at $26.13 and analysts are predicting further rises in the coming days. Demand for the company’s products are up this quarter and traders are keeping a watchful eye on how this announcement will translate into revenue for Cisco.
Cisco Announcement

Due to strong demand for Cisco systems network equipment the company will be bullish going into the second quarter of 2010. JP Morgan re-assumed coverage of Cisco giving it an overweight rating on the stock and labeled a price target of $28. Commentators think that Cisco is planning major updates to its core router systems, the way Internet video is relayed and a reworking of Telepresence, all to make wireless internet much more efficient.

Cisco stock has hit a year long high with 237,000 pick ups and only 79,000 puts. People believe that Cisco Systems can achieve more than $27.50 before 1st Quarter 2011 with yesterday’s stock price up 3.7%.

What is sure is that after a dogged 2009, Cisco shares are on the up and investors will have to make a decision on the value of this cryptic Cisco announcement, whether to buy Cisco stock or sit tight and wait for more concrete revenue data.

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