While many tech companies that serve enterprises are experiencing increasing caution from their customer bases, networking-hardware giant Cisco Systems (NASDAQ: CSCO) has been an exception. The company handily beat analyst expectations for the fiscal fourth quarter, which ended on July 29. Total revenue grew 16% year over year to $15.2 billion, while adjusted earnings per share shot up 37% to $1.14.

Shares of Cisco rose Thursday morning on the good news. Despite solid growth from the company over the past year, Cisco stock has barely edged out the S 500 in 2023. And over the past five years, it has lost badly to the broad stock market index.

With Cisco's business booming, should investors bet on a market-beating rally?

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Source Fool.com