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TheStreet Open House

Why Cisco Benefits From Apple's iPad (Update 1)

Stocks in this article: CSCOAAPL

Lloyd, though, reiterated Cisco's commitment to its business tablet.

"The Cius tablet is actually a purpose-built, enterprise class mobile device," he said in the interview. "It's a combination of a handset and a device that enables collaborative applications, optimized for video, optimized for an app store."

Apple's iPad, although initially aimed at consumers, is proving extremely popular in corporate America.

Speaking during the gadget giant's recent fiscal first-quarter conference call, Apple Chief Financial OfficerPeter Oppenheimer said that nearly all of the companies in major Fortune 500 markets are using the iPad to improve workflows, business processes and consumer interactions. The Apple finance chief explained that estate agent Coldwell Banker is using iPads to access sales presentations and view custom-built apps while showing houses to customers.

After a largely lackluster 2011, Cisco shares have climbed almost 9% this year. Shares of Apple, which recently hit a new all-time high, are up almost 34% over the same period.

--Written by James Rogers in New York.

>To follow the writer on Twitter, go to http://twitter.com/jamesjrogers.

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