Cisco targets higher revenue and AI-driven growth amid valuation shifts
Cisco’s shares trade at about 21.5x expected fiscal 2027 earnings and 20.0x for fiscal 2028, with the forward multiple down versus the trailing level. Management projects AI infrastructure for hyperscalers to rise from under 2% of fiscal 2025 revenue to more in 2026–27, while expecting limited additional spend to support an operating margin near 35% for fiscal 2027.