Cisco Systems raised annual revenue forecast on Wednesday, a sign of improving demand as the computer networking equipment maker shifts focus to cybersecurity, cloud systems and AI-driven products.Companies have ramped up investments in AI technologies which require heavy computing power,

Shares of the computer networking equipment maker were down 1.4% in extended trading after the company forecast annual revenue broadly in line with estimates. Companies have been ramping up investments in AI technologies which require heavy computing power,

Cisco Systems Inc., the biggest maker of computer networking equipment, delivered better-than-expected quarterly results and an upbeat outlook for the current period, but a conservative annual forecast brought a muted reaction from investors.