While the market was still paying for the AI hardware craze, Morgan Stanley looked at the “old” racetrack — enterprise network devices. The bank said that this sector, which has been left out for a long time, is experiencing a round of solid recovery driven by “equipment aging+safety,” and that the real dark horse is not Cisco, which has the largest market capitalization, but F5, an established application delivery manufacturer. Damo maintains an industry rating of “on par with the market” for the telecommunications network equipment sector. The underlying narrative is that growth is picking up moderately, defenses are increasing, and investment is returning to discipline. It's not a “comprehensive overview” report, but rather a “who has independent switching logic who wins” screening guide. Meanwhile, in this round, Damo voted the biggest bullish vote for F5.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.