NEW YORK (Real Money) -- In case you missed it, the Nasdaq hit an all-time high last week for the first time since 2000. It's been an astonishing ride back, with the emergence of some strong new companies like Google (GOOGL - Get Report), along with strong showings from older ones like Apple (AAPL - Get Report), Amgen (AMGN - Get Report) and Qualcomm (QCOM - Get Report).
Yet, one company that stands out and continues to be presented and accounted for is Cisco Systems (CSCO - Get Report). While we currently marvel at the highs reached by Apple these days--nearly $800 billion in value -- we often forget that Cisco was the leader back in the dot-com bubble days, extending to more than $500 billion in value.
During the late 1990s, Cisco was dominant, but there was a catch, of course. The company carried a wild valuation, had less cash and was vulnerable to a turn in the market. Today, the stock's valuation is within reason, and it still ranks in the top ten of the Nasdaq 100, boasts strong revenues and solid cash reserves, and pays a steady dividend.
Even with those strong fundamentals, Cisco has been a laggard over the last few years. But it may be on the verge of moving higher, if it can break through its most recent high.
Cisco moved sharply higher in February, following strong earnings and very good relative strength. After beating its estimates, the stock moved up and hit some resistance, forcing it to correct to a stronger support level.
Since late March, it has been up about 10% and moving in on those February highs on decent volume. We have also seen some very nice call buying out to June on various strikes plus solid turnover, which indicates institutional sponsorship in the name. Take a look at the Cisco chart above, where you can clearly see this buying taking place. You can also see my technical analysis on Cisco in this video.
Editor's Note: This article was originally published at 2 p.m. EDT on Real Money Pro on April 29, 2015.