TradingKey – At the close on September 22, Eastern Time, Cisco (CSCO) stock suffered a notable sell-off, falling 4.52% on the day to an intraday low of $104.48 before closing at $106.41. Notably, the Nasdaq and the broader tech sector performed relatively stably that day, and networking equipment stocks such as Arista Networks (ANET) and Ciena (CIEN) did not experience a concurrent sharp decline, indicating that this adjustment was driven more by Cisco-specific factors rather than a systemic sell-off across the tech sector.
Why Did Cisco Stock Fall?
On the news front, the core reason for the decline in Cisco’s stock price lies in Piper Sandler lowering Cisco’s price target. The firm maintained a “Neutral” rating on Cisco but cut the price…
