Cisco Systems Inc is trading 3% down at $120.38 as investors lock in gains following a powerful multi-month rally that pushed shares toward all-time highs.
- The decline aligns with broader underperformance in large-cap tech and a softening of market risk appetite rather than any company-specific news or guidance changes.
- Analysts suggest the move is driven by investors taking profits in recent AI and networking winners after the stock's significant recent outperformance.