Cisco popped 15% so I dug into the earnings after missing the move...

Yeah yeah, ik im late on Cisco. Everyone already talked about it a couple days back.
I completely missed the 15% move live. After that I got kinda annoyed and actually went through the earnings properly instead of just scrollin past it. Good that now we have tools like GetClaw for help checking the numbers.

nd tbh... i get why people got bullish.
Ai orders guidance got raised from $5.3B to $9B. networking revenue jumped 25%, data center orders were strong too nd Now the market suddenly sees Cisco as an Ai company instead of just an outdated networking company

bt I still feel like people are getting a bit too excited here.
Margins are getting weaker, Some older parts of the business are still having a hard time.. insiders sold shares before earnings. nd the stock already moved like 25% in a week and is sitting near highs now.

At first I was also going with just the flow but Later, when I was brainstorming with GetClaw, it actually started to make sense in my head and then when I searched a little about it from these perspective in mind some Reddit posts that came to my feed actually pointed towards this as well...
Now imo... the rerating already happened. That was probably the easiest part of the move.

Short term Im slightly bearish unless Nasdaq keeps running higher and drags everything with it. Feels like everyone suddenly became ultra bullish on the exact same AI story at once.
My bigger concern is that a lot of this demand is coming from only a few huge customers. If even one of them slows spending later, this whole narrative changes very fast.

So for people still bullish here at these prices... what’s the actual thesis now besides just “AI infrastructure”?