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Another 'victim' of soaring memory prices: Cisco suffers its worst day since 2022
4 hour ago /
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Author：小编
On Thursday, Cisco, the world's largest network equipment manufacturer, saw its stock price plummet by 12%, marking the largest single-day decline since 2022. The surge in demand for AI data centers has driven memory prices to soar, eroding Cisco's profitability. Cisco's hardware products rely on memory, and the company has raised prices and revised contract terms in response. Despite exceeding expectations in its second-quarter results, a decline in gross margin and a lackluster performance outlook led to the stock price drop.
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