PREVIEW: Cisco seen posting 11% y/y revenue jump on AI infrastructure demand

Shares of Cisco Systems Inc CSCO.O down ~1% amid range-bound trading on Weds ahead of the company's qtrly report due after the bell

Networking equipment maker seen posting adj EPS of $0.92, a 4.3% y/y increase, on rev of $14.1 bln, or 10.8% more than year-ago qtr, according to LSEG

On May 6, CSCO unveiled a prototype chip for networking quantum computers

On Feb 12, co hiked its annual rev forecast, betting on growing demand for its cloud networking gear as companies ramp up their AI infrastructure

CSCO has beaten or met EPS estimates every qtr going back at least to qtr ended Oct 2019, per LSEG

Of the 23 analysts covering CSCO, 12 rate stock "buy" or stronger; remaining 11 recommend "hold"

Median PT of $68 compared with current share price of $61.17

With move on Weds, CSCO up ~3% YTD, compared with both the Dow's .DJI and the Nasdaq's decreases of about 1%