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Cisco's (CSCO +1.8%) dominant 10G Ethernet position has "translated into meaningful share gains...

Cisco's (CSCO +1.8%) dominant 10G Ethernet position has "translated into meaningful share gains across switching and routing markets," says Piper's Troy Jensen in a bullish note. Jensen observes Cisco has a 67% share of the 10G switch market following a March quarter in which port shipments rose 35% Y/Y, and that Gartner sees the market posting a 9.7% CAGR through 2017 in spite of a 15.4% annual drop in price/port. He also thinks "recent security concerns at Huawei and structural issues at Alcatel-Lucent (ALU)" should lead to further share gains. Jensen's comments follow a string of upbeat notes in response to last week's Cisco Live announcements (I, II).
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