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Why Cisco and Walmart Plunged

The stock market prices a company’s value into its future worth. After posting three straight quarters of unexpectedly strong results, tech networking firm Cisco Systems (CSCO) disappointing Q1 results.

Cisco posted revenue growing by 7.6% Y/Y to $14.67 billion. However, it is forecasting Q2/2024 revenue of $12.6 billion to $12.8 billion. The weak full-year 2024 sales growth is a result of customers focused on installing and implementing previously purchased products.

Customers need to pause their large purchase commitments. This will delay Cisco’s re-accelerated growth in the second half of the fiscal year.

Cisco may under-forecast and over-deliver. Be cautious about CSCO stock for now.

In retail, Walmart (WMT) dropped 6.75% last week. It posted revenue growing by 5.2% Y/Y, outpacing inflation rates. However, its FY 2024 net sales growth of 5% - 5.5% is below the 5.61% expected rate.

Walmart posted good results. Cash positions are healthy at $12.2 billion against total debt of $55.4 billion. Free cash flow rose to $4.3 billion, compared to $3.6 billion last year. Expect Walmart customers to take advantage of Walmart+ for its free delivery of groceries and shipping. The company helps its customers save money, a much-appreciated gesture in an era of hot inflation.

Add WMT stock to your watch list.