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. Last Updated: 07/27/2016

Cisco Beats Intel

PALO ALTO, California -- Many said it was bound to happen and now it has: Cisco Systems Inc., the largest maker of computer networking equipment, has become the most valuable company in Silicon Valley, nudging aside the world's largest semiconductor firm, Intel Corp.

Fifteen-year-old Cisco ended Wednesday with a stock market value of $278.3 billion, based on 3.5 billion shares outstanding. That eclipses the $274.3 billion market value of the venerable 31-year-old chipmaker Intel's 3.472 billion shares.