Cisco Systems Inc is trading 3.7% down at $125.19 as a broader sell-off in U.S. technology shares and AI-related stocks prompts investors to rotate out of high-valuation names.
- The decline follows a significant multi-week rally driven by optimism surrounding the company's AI orders outlook and recent post-earnings strength.
- Market sentiment has shifted as the Nasdaq slides, leading to profit-taking despite recent analyst price target hikes for the networking giant.
- The pullback comes after a period of sharp gains fueled by Cisco's updated AI strategy and strong quarterly performance.