SAN JOSE, Calif. ( TheStreet) -- Apple's (AAPL - Get Report) new iPad, along with the slew of Google (GOOG) Android-based tablets, spells big opportunity for Cisco (CSCO - Get Report), according to Robert Lloyd, the networking giant's executive vice president of worldwide operations.
"It means that the network does play, and will play, a critical role in opening up these devices into corporate IT," he said during an interview at Cisco's headquarters. "Our customers are saying 'How am I going to exploit that
|Cisco sees opportunity in the new Apple iPad.|
Cisco, which busted out strong second-quarter results last month, is rebounding from a difficult period in company history. After undergoing a massive corporate overhaul, though, Cisco is enjoying healthy growth in key areas such as switching and routing.
Cisco's switching revenue, which accounts for almost a third of total sales, climbed 8% year over year during the second quarter. The company's routing revenue, which makes up just under a fifth of Cisco's sales, also grew 8%.Lloyd added that Cisco has seen improved demand for a number of its offerings since Apple kick-started the tablet revolution in early 2010. "We have seen a huge amount of growth in our Wi-Fi business," he said, adding that tablets have also boosted Cisco's security sales."The network is more relevant than ever before, and we're really looking at that change in devices and explosion in mobility as a huge opportunity for Cisco." Cisco, of course, has its own tablet, the business-focused Cius, although Lloyd said the device should not be compared to Apple's iPad. "Don't confuse the Cius with a consumer tablet," he said. "It's a business device that's optimized not only for communications, but
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts