Cisco (CSCO) is scheduled to report earnings on Wednesday after the close, but will it really matter? Last week, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said even a good earnings result by Cisco could be overlooked if big sector rotations were still taking place in the market.

So as we inch closer to the company's results, what are his thoughts on the matter now?

The stock has had a big run this year, up more than 16%, Cramer said from the floor of the New York Stock Exchange. And with the exception of Tuesday, the tech sector has remained under pressure since the election.

Investors are rotating out of tech stocks and other sectors and into equities that will benefit from an increase in infrastructure spending and an increase to interest rates. Tech has been pressured because it won't benefit from either of those catalysts.

However, cybersecurity is poised to benefit from an increase in companies spending on protection, he noted earlier in Tuesday's session.

Despite the rotational pressure on the overall sector, it has allowed many of the stocks to become more attractive from a valuation standpoint, he concluded.

Analysts expect the company to earn 59 cents per share on $12.33 billion in revenue.

At the time of publication, Cramer's Action Alerts PLUS had a position in CSCO. 

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