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China showcased its technological advancements, including humanoid robots, at Macau's Beyond Expo, amid ongoing tensions with the US over semiconductor access and Huawei's AI chips. The Chinese government criticized the Trump administration for hindering trade talks, while Nvidia's CEO called for easing restrictions on AI technology exports to China.
Wells Fargo has upgraded Cisco Systems, Inc. (CSCO) to "Overweight" with a price target of $75, citing strong AI momentum and a significant increase in new orders. The U.S. and UAE have also announced a partnership to enhance AI capabilities, including a $200 billion investment in AI data centers, marking a pivotal step in the UAE's ambition to become a global AI hub.
Cisco Systems' executive vice president now owns 191,184 shares valued at approximately $11.6 million after a recent sale, which decreased their position by 1.07%. Over the past 90 days, insiders sold 14,635 shares, while institutional investors hold 73.33% of the stock. Analysts have raised Cisco's price target to $73.00, suggesting a potential upside of 14.74%. The company reported earnings of $0.96 per share, exceeding estimates, and announced a $15 billion share repurchase plan, indicating management's belief in the stock's undervaluation.
UBS has maintained a Neutral rating on Cisco Systems with a price target of €70, as the company reported strong fiscal Q3 results, exceeding expectations in revenue and EPS. Cisco's AI-related orders surpassed €1 billion, and its guidance for Q4 also exceeded forecasts. Analysts from Citi, Evercore ISI, and JPMorgan have raised their price targets, reflecting confidence in Cisco's growth, particularly in AI and networking, while the company announced a leadership transition with the retirement of its CFO.
The US has intensified its crackdown on Huawei, declaring that the use of its AI chips, specifically the Ascend 910B, 910C, and 910D, violates export laws due to their ties to US-origin technology. This guidance expands existing restrictions and reflects growing concerns over Huawei's advancements in AI and semiconductor development. Despite these challenges, Huawei is increasing its market share in China and focusing on domestic production to bolster its resilience against global restrictions.
US equity markets ended the week lower amid uncertainty before US-China trade talks, with the S&P 500 down 0.5%. Following initial discussions, President Trump announced "great progress," hinting at a potential tariff reduction from 145% to 80%, while global peace initiatives boosted market sentiment. Key economic data, including CPI and earnings reports from major companies, are anticipated this week.
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