Tickers
Cisco Systems (CSCO) fell 7% to $96.13 after a Morgan Stanley downgrade, with the selling spreading across the networking group. Ciena dropped 15% and Arista Networks fell 10% as investors retreated from AI infrastructure stocks.
Cisco Falls 7% on Morgan Stanley Downgrade as Networking Stocks Retreat
Cisco Systems (NASDAQ: CSCO) shares recently traded at $96.13, down 7%, after a Morgan Stanley downgrade, according to 247wallst.com.
The selling extended across the networking group, with a broad retreat from AI infrastructure stocks hitting the sector at the same time as the downgrade.
Sector Moves
- Cisco Systems (CSCO): down 7%, recently trading at $96.13
- Ciena: down 15%
- Arista Networks: down 10%
The report described the combination of a Wall Street downgrade and a broad pullback in AI infrastructure stocks as hitting the networking group simultaneously.
Cisco’s decline followed the Morgan Stanley downgrade, while Ciena and Arista Networks posted steeper losses as investors retreated from the group.