The telecommunications sector led NASDAQ stocks market higher Tuesday as Cisco announcement of a faster router following weeks of publicity.
Cisco is reminding us that the heart and soul of its big business is still the humble router; on Tuesday the company announced its next generation Internet router for the world’s leading Internet service providers, i.e. CRS-3.
After a two week countdown to an announcement that it said would “forever change the Internet”, the company make public what looks like promote to its existing core CRS-1 router.
The NASDAQ composite jumped 0.7 percent, whereas the Standard & Poor’s 500 share index gained 0.5 percent, led by its telecommunications segment.
Cisco’s CEO John Chambers said, “This new router will serve as the foundation of the next-generation Internet that will see tremendous growth due to video”.
“Video is the killer app”, Chambers said. “Video brings the Internet to life and most of the devices that will be coming on the network will evolve quickly into video”, he said.
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