Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Cisco Systems Inc (NASDAQ:CSCO) sees about half its revenue coming from software and other recurring sales within four years. CFO Scott Herren said that Cisco's subscription revenue would come from services with lower margins than software.
- However, the surging chip prices in its hardware business will continue to pressurize overall profits and margins, Reuters reports. Cisco supplier Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM) recently announced a price hike of 8% - 20%.
- The producer of networking gear for data centers and corporate campuses is shifting toward selling recurring subscriptions for software like its WebEx collaboration service and cybersecurity services.
- Cisco sees a portion of its subscription revenue rising from 44% notched for FY21 to 50% by FY25.
- Cisco's FY25 revenue forecast with a midpoint of $62.9 billion expects a compound annual growth rate of 5% - 7%. It maintained a similar growth rate for adjusted EPS, targeting a midpoint of $4.07 in FY25.
- Credit Suisse analyst Sami Badri upgraded Cisco Systems to Outperform from Neutral with a $74 price target, implying a 28.6% upside.
- Price Action: CSCO shares traded higher by 1.25% at $58.28 in the premarket session on the last check Thursday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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