Network company Cisco Systems (NASDAQ:CSCO) has been taking several positive steps, and its shares are currently hovering near their 52-week high. So, let’s discuss why it is well-positioned to maintain its rally. Read on.Shares of the worldwide leader in technology Cisco Systems, Inc. (CSCO) have gained 44.3% in price over the past year and 3.3% over the past month to close yesterday’s trading session at $56.76. The stock is currently trading 5.8% below its 52-week high of $60.27, which it hit on August 25, 2021. The company’s impressive performance can be primarily attributed to increasing spending trends for cloud computing infrastructure and corporate and telecom networks amid the continued shift to a hybrid working model. CSCO is based in San Jose, Calif.
CSCO recently launched Webex Hologram, an augmented reality meeting solution that delivers a seamless work experience. In addition, the stock recently witnessed a rise in hedge fund sentiment.
Furthermore, CSCO is well-positioned to continue gaining in the near term relying on its solid fundamentals and accelerated pace of digitization.