Cisco Systems, Inc. (NASDAQ:CSCO) is one of Billionaire Ken Fisher’s 15 Most Notable Moves for 2026.

Cisco Systems, Inc. (NASDAQ:CSCO) is one of the oldest holdings of Fisher Asset Management, having been constantly featured in the 13F portfolio of the fund since 2010. In the third quarter of 2012, at its peak, this stake comprised close to 38 million shares. Fisher Asset reduced this holding to just over 1 million shares by the beginning of 2022. However, in recent quarters, the fund has been buying up the shares in the tech firm again. It has added to the stake in three of the last four quarters. In the fourth quarter of 2025, Fisher Asset Management increased its stake in the company by a whopping 867% compared to filings for the previous quarter. In mid-February, Cisco had projected over $5 billion in AI orders for the 2026 fiscal year amid accelerated demand and product innovation.

Cisco Systems, Inc. (NASDAQ:CSCO) provides an excellent example of the path tech firms have taken since the dotcom boom and bust of the early 2000s. In his 2006 book titled The Only Three Questions That Count: Investing by Knowing What Others Don’t, Fisher underlined that bubbles aren’t about great technologies—they’re about great stories and too-high expectations. The billionaire understood that the underlying technology of Cisco has remained the strength of the firm, with valuations steadily settling down since the dotcom bubble burst.

Cisco Systems, Inc. (NASDAQ:CSCO) designs, develops, and sells technologies that help to power, secure, and draw insights from the internet in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company offers data center switching, network security, identity and access management, and secure access service edge.

While we acknowledge the potential of CSCO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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