Cisco's stock closes at record for first time since dot-com peak in 2000

In a remarkable turn of events, Cisco's stock has reached heights not seen since the peak of the dot-com era in 2000. On Wednesday, shares climbed nearly 1%, finishing at $80.25, surpassing the previous record of $80.06 set on March 27, 2000. This historic day marked Cisco's ascent to the status of the most valuable public company, eclipsing Microsoft at the time. During the internet boom, Cisco was a pivotal player, providing essential networking equipment that powered companies eager to establish an online presence. However, the burst of the dot-com bubble shortly after Cisco's peak led to significant market losses, with the Nasdaq losing over three-quarters of its value by October 2002. Despite the tumultuous period that followed, Cisco managed to endure and innovate. The tech giant diversified its portfolio through strategic acquisitions, including notable companies like Scientific-Atlanta in 2006 and software firms such as Webex, AppDynamics, Duo, and Splunk. As of Wednesday, Cisco's market capitalization stands at an impressive $317 billion, ranking it as the 13th most valuable tech firm in the United States. Yet, in the current tech landscape dominated by AI advancements, Cisco has lagged behind industry giants like Nvidia. Nvidia's AI chips have become vital for tech companies developing AI-focused data centers, boasting a staggering market cap of $4.5 trillion, nearly 14 times that of Cisco's. Nevertheless, Cisco is positioning itself to capitalize on the AI surge. CEO Chuck Robbins recently revealed that the company secured $1.3 billion in quarterly AI infrastructure orders from major web firms. While total revenue approached $15 billion—with a year-over-year growth of 7.5%—it's a far cry from the explosive 66% growth seen in 2000. Despite this, Cisco's stock has surged approximately 36% in 2025, outperforming the Nasdaq's 22% increase during the same timeframe. As the demand for AI technology continues to accelerate, Cisco appears committed to reclaiming its place in the tech hierarchy.