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Tech Industry

Cisco hits $100 billion mark

Cisco stock climbs above $100 per share, trading as high as $103.1875 and making its market value worth nearly $104 billion.

Cisco is now a $100 billion company.

The company's stock climbed above $100 per share today, closing at 103.1875--a new 52-week high. The networking giant's market capitalization jumped to nearly $104 billion.

Cisco stock has traded as high as 99.875 and as low as 44.4167 in the past 52 weeks.

The $100-billion market cap mark for Cisco is another reminder of the See news analysis: 
Can Cisco stay on top? strength of networking stocks. The runup in Internet stocks has dominated the spotlight this year. But the stock of networking firms, which make the so-called plumbing of the Internet, have long been hot issues on Wall Street, fueling a surge in the technology sector.

Cisco is up nearly 90 percent this year alone.

Other networking companies also have been experiencing a resurgence.

3Com has rebounded. Last week, the company named Bruce Claflin, a former top executive of Digital, as its president and chief operating officer. Eric Benhamou remains the company's CEO. 3Com is the No. 2 networking giant behind Cisco.

Earlier this month, Ascend posted quarterly earnings that beat Wall Street's estimates for the third quarter in a row. Its stock has rebounded from a slump.

A relative newcomer on the networking scene, Lucent, has been one of the hottest technology stocks on Wall Street. It formerly was part of AT&T.