Cisco Is Up 17% Today: Is It Outperforming Other Networking Stocks Like Hewlett Packard Enterprise and Arista Networks?

"Cisco reported record Q3 FY2026 revenue of $15.84 billion, up 12% year over year, with non-GAAP EPS of $1.06 versus the $1.04 consensus. That's Cisco's fourth consecutive EPS beat. The headline catalyst is the AI infrastructure order guide. Cisco raised its FY2026 AI infrastructure order target to $9 billion, up from $5 billion, and lifted FY2026 revenue guidance to $62.8 billion to $63 billion. The company has already booked $5.3 billion in AI infrastructure orders year-to-date (YTD)."

"The move makes Cisco the clear single-day leader in networking infrastructure. By comparison, Hewlett Packard Enterprise ( NYSE:HPE) is up 6% to $34 and Arista Networks ( NYSE:ANET) is up 2% to $143. Cisco's market cap sits near $402.4 billion heading into the session, and today's gap higher will widen the gulf further. The pre-market surge positions Cisco to extend its lead over networking peers."

"CEO Chuck Robbins stated, "Cisco delivered record quarterly revenue in Q3 and we saw very strong, broad-based demand for our products, demonstrating the relevance of our technology for connecting and securing AI." Cisco's management also announced plans to cut nearly 4,000 jobs, framed as a reallocation toward silicon, optics, security, and AI."

"The story is more nuanced across the peer set. HPE stock is up 34% YTD, narrowly ahead of Cisco stock, which is up 32% YTD. Arista, widely viewed as the premier AI networking pure-play, is a comparative laggard as it's up 7% YTD. Cisco's hyperscaler order acceleration directly challenges the long-running bull case that Arista was steadily taking AI networking share at Cisco's"

Cisco shares rose sharply in early trading after a fiscal third-quarter report. The stock moved to around $119 following a May 13 close near $101.87. Cisco became the top single-day performer among networking infrastructure peers, outpacing Hewlett Packard Enterprise and Arista Networks. Cisco reported record Q3 FY2026 revenue of $15.84 billion, up 12% year over year, and non-GAAP EPS of $1.06 versus $1.04 consensus. Cisco raised its FY2026 AI infrastructure order target to $9 billion from $5 billion and lifted FY2026 revenue guidance to $62.8 billion to $63 billion. Cisco also reported $5.3 billion in AI infrastructure orders year-to-date and announced plans to cut nearly 4,000 jobs while reallocating toward silicon, optics, security, and AI.

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