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March 23, 2020, 9:58 a.m. EDT

Cisco to Lead Investment Efforts Aimed at Fighting COVID-19

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Mar 23, 2020 (Baystreet.ca via COMTEX) -- One of the giants of the technology sector vows to commit $225 million to assist in efforts aimed at combating the coronavirus while the rest of Silicon Valley initiates an investment blitz to help in the fight.

Cisco /zigman2/quotes/209509471/composite CSCO -2.34% CEO Chuck Robbins says his company, which focuses on crafting telecommunications equipment and networking hardware, is putting up the massive investment.

The $225 million is in cash, in-kind, and planned-giving to support both the global and local response to COVID-19," Robbins said.

"As part of our commitment, we are allocating $8 million in cash and $210 million in product to the global coronavirus response. We are focusing these resources on supporting health-care and education, government response and critical technology.

"Part of this will go to the United Nations Foundation's COVID-19 Solidarity Response Fund, supporting the World Health Organization's (WHO) worldwide efforts to help prevent, detect, and manage the spread of COVID-19."

The effort comes as Silicon Valley starts to invest into a variety of groups looking to fight the coronavirus.

Robbins recently hosted a call with Silicon Valley business leaders to discuss ways they can use their money and vast resources to help fend off the coronavirus.

CEOs and executives from Facebook /zigman2/quotes/205064656/composite FB +1.70% , Apple /zigman2/quotes/202934861/composite AAPL +1.01% the National Football League's San Francisco 49ers, Twitter (nysez:TWTR), Netflix /zigman2/quotes/202353025/composite NFLX -0.18% , Alphabet /zigman2/quotes/202490156/composite GOOGL +0.20% and Salesforce /zigman2/quotes/207877952/delayed DE:SRM 0.00% were invited to take part.

CSCO shares lost $1.45, o4 4.7%, early Monday morning to $34.15

COMTEX_363727597/2559/2020-03-23T09:58:03

/zigman2/quotes/209509471/composite
US : U.S.: Nasdaq
$ 46.70
-1.12 -2.34%
Volume: 4.21M
June 1, 2020 10:27a
P/E Ratio
18.64
Dividend Yield
3.07%
Market Cap
$202.80 billion
Rev. per Employee
$684,933
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/zigman2/quotes/205064656/composite
US : U.S.: Nasdaq
$ 228.92
+3.83 +1.70%
Volume: 4.13M
June 1, 2020 10:27a
P/E Ratio
31.33
Dividend Yield
N/A
Market Cap
$641.30 billion
Rev. per Employee
$1.57M
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/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 321.16
+3.22 +1.01%
Volume: 5.70M
June 1, 2020 10:27a
P/E Ratio
25.16
Dividend Yield
1.02%
Market Cap
$1378.06 billion
Rev. per Employee
$1.98M
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/zigman2/quotes/202353025/composite
US : U.S.: Nasdaq
$ 418.99
-0.74 -0.18%
Volume: 836,690
June 1, 2020 10:27a
P/E Ratio
84.87
Dividend Yield
N/A
Market Cap
$184.60 billion
Rev. per Employee
$2.22M
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/zigman2/quotes/202490156/composite
US : U.S.: Nasdaq
$ 1,436.44
+2.92 +0.20%
Volume: 245,755
June 1, 2020 10:27a
P/E Ratio
29.06
Dividend Yield
N/A
Market Cap
$769.02 billion
Rev. per Employee
$1.39M
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/zigman2/quotes/207877952/delayed
DE : Germany: Frankfurt
13.31
0.00 0.00%
Volume: 0.00
May 29, 2020 8:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
N/A
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