Jim Cramer Recently Discussed These 17 Stocks And Chinese Hackers

9. Cisco Systems, Inc. (NASDAQ:CSCO)

Number of Hedge Fund Holders In Q3 2024: 60

Cisco Systems, Inc. (NASDAQ:CSCO) is one of the biggest information technology equipment providers in the world. The stock performance remained lackluster in 2024 due to the broader non-AI IT industry’s sluggish performance in a high interest rate environment. However, Cisco Systems, Inc. (NASDAQ:CSCO)’s shares did jump by 6.8% in August after the firm’s fiscal fourth-quarter revenue of $13.64 billion beat analyst estimates of $13.54 billion. However, the stock dipped by 1.4% after the Q1 results when the firm’s $55.8 billion of annual revenue met analyst estimates. Here is what Cramer said about Cisco Systems, Inc. (NASDAQ:CSCO):

“Yes and Chuck Robbins there putting on his business round table hat. Runs it, but I will tell you that I think that this combination of what, Splunk, which they bought and old Cisco are gonna produce some terrific numbers. This cybersecurity program that they have . . .is very strong. And I think they’re gonna win a lot of federal business and a lot of banking business. By the way, their competitors are very positive about Cisco’s technology. I did not expect that.

“[on the stock’s comeback] It’s been a horse. It’s been terrific. And I think that Chuck is a very reasonable terrific person, other than the fact that he strangely is an Atlanta Falcons fan. Talk about pass, fail. That’s a fail. But, Chuck’s terrific and the numbers are gonna be really good and the P/E multiple is very low, seventeen times earnings, this is a tech company that’s overlooked. I like it.”