Rising storage chip prices become a "profit killer"! Cisco (CSCO.US) beats earnings expectations but shares fall 7% as soaring AI orders can't offset cost pressures
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Despite quarterly results and full-year revenue guidance both exceeding market expectations and demonstrating growth momentum driven by artificial intelligence (AI) business, the company's stock price plunged sharply in after-hours trading due to a lackluster profit forecast for the current quarter and profit margin guidance significantly below analysts' estimates.
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