Apple Gears Up for WWDC: Tech Weekly

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As Cisco (CSCO) continues to focus on expanding its business for the content boom, the company announced its latest router technology on Tuesday, unveiling its new family of ASR 5500 products.

The tech giant is touting the ASR 5500 as a key tool to help service providers wrestling with an explosion in Internet connections. Cisco predicts mobile Internet traffic will increase 18-fold by 2016.

"We think [the ASR 5500] accelerates a lot of what Facebook is trying to do, particularly in the mobile environment," said Murali Nemani, Cisco's director of service provider mobility, during an interview with TheStreet. "Facebook has an app called Friend Mapping that's a constant update, happening by the minute."

Shares of Cisco gained 4.82% to close at $16.73.

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Linkedin (LNKD) confirmed a major security breach on Wednesday, which saw a large number of passwords hacked.

LinkedIn director Vincente Silveira explained, on the company blog, that "some of the passwords that were compromised correspond to LinkedIn accounts."

Shares of Linkedin gained 5.19% during the week to close at $96.26.

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Next week is a big one, as Apple's WWDC takes center stage in the tech world. I'll be out in California doing a live blog of the event. I'll also be meeting with several other technology companies and will have some exciting things to talk about when I get back. I'll be off the grid most of the week, but fear not, loyal readers, I will return.

Enjoy the weekend everyone.

Interested in more on Cisco? See TheStreet Ratings' report card for this stock.

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-- Written by Chris Ciaccia in New York

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