Cisco stock drops on a report Amazon Web Services is developing its own network devices
https://www.cnbc.com/2018/07/13/aws-network-devices-report-cisco-juniper-fall.html
Networking company stocks fell off Friday following a report by The Information that Amazon Web Services is considering selling its own network switching devices.
Cisco dropped 5 percent, representing a loss in stock value of roughly $11 billion. Juniper gave up more than 3 percent. Arista Networks dropped nearly 6 percent, and F5 Networks dropped roughly 2 percent. Broadcom, which makes chips used in switching devices, was down nearly 3 percent on the day following the report, extending a rough week for the stock.
Cisco stock drops on a report Amazon Web Services is developing its own network devices
Jul 13, 2018, 6:34pm UTC
https://www.cnbc.com/2018/07/13/aws-network-devices-report-cisco-juniper-fall.html
> Networking company stocks fell off Friday following a report by The Information that Amazon Web Services is considering selling its own network switching devices.
> Cisco dropped 5 percent, representing a loss in stock value of roughly $11 billion. Juniper gave up more than 3 percent. Arista Networks dropped nearly 6 percent, and F5 Networks dropped roughly 2 percent. Broadcom, which makes chips used in switching devices, was down nearly 3 percent on the day following the report, extending a rough week for the stock.