Citi
May 14, 2026
The Point for North America
Daily UpdateEquitiesMacro Economic IndicatorsCommoditiesInformation TechnologyIndustrials
Citi provides updates on North American hardware, tech, and airlines, highlighting robust AI demand for Cisco and supply chain shifts. Key macro updates include April Core PCE tracking at 0.26% MoM and cautiousness on consumer retail and flights.
Key Takeaways
- 1.AI infrastructure buildout and agentic AI workloads are driving robust demand for hardware and networking, though supply constraints are broadening beyond memory.
- 2.Cisco reported strong results with a significant increase in FY26 AI orders to $9B (up from $5B), reflecting broad networking strength.
- 3.April Core PCE inflation is tracking at 0.26% MoM, driven partly by goods prices in computer software reflecting AI demand.
Table of Contents
- Morning Call Highlights
- Must Read
- Company
- Industry
- Economics & Strategy
- Key Rating and Target Price Changes
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Authors
Asiya MerchantAtif Malik
Securities
Cisco SystemsMELIEBAYNXT.N
Themes
Agentic AI InfrastructureMonetization Uncertainty in E-commerce
Regions
North AmericaAsia PacificUnited StatesChina