Cisco stock has worst day since 2022 as memory prices pressure margins
Government
Cisco Systems shares plunged as much as 12% Thursday as rising memory prices put pressure on the networking company's margins. It's the stock's worst day since 2022. Strong demand for artificial intelligence chips from Nvidia has caused a global shortage of memory, which has caused costs to skyrocket for the component. Large orders for data center memory have limited production capacity for other devices, including smartphones. This has created uncertainty for a number of tech companies,
din zilele anterioare