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Cisco shares rise on report that Amazon isn't building rival hardware

Key Points
  • MarketWatch reported that Amazon Web Services is not aiming to sell its own network switch.
  • Cisco shares rose after hours.
Cisco CEO Chuck Robbins
Pradeep Gaur | Mint | Getty Images

Cisco shares climbed almost 4 percent in extended trading after MarketWatch reported that Amazon Web Services is not planning to start selling network switches, countering a story last week that said AWS was looking to enter the market.

In a statement that Cisco confirmed to CNBC, "Cisco and AWS have a longstanding customer and partner relationship, and during a recent call between Cisco CEO Chuck Robbins and AWS CEO Andy Jassy, Andy confirmed that AWS is not actively building a commercial network switch.”

MarketWatch said that AWS confirmed the statement without providing further details.

Cisco rose as much as 3.6 percent to $43.75 in after-hours trading following the report, while networking rival Juniper was up a little more than 1 percent after hours. On Friday, Cisco and shares of other networking vendors dropped following a report by The Information that AWS is considering selling its own network switching devices.

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