Wednesday's sell-off was a total 'bloodbath,' with the AI application software sector completely collapsing— Cisco $CSCO earnings beat expectations, but the stock still tanked 7% Shorting has been making money lately Meanwhile, all my spot positions are stuck Trade U.S. stocks with Maitong @MSX_CN: https://(msx.com)/?code=reff_5J1DSN On the earnings front: The company delivered an impressive report, beating expectations. Adjusted EPS came in at $1.04, exceeding FactSet's forecast of $1.02. Revenue grew 10% year-over-year to $15.35 billion, higher than the market's expectation of $15.11 billion. Cisco's AI business is accelerating rapidly. Orders for AI network infrastructure surpassed $2.1 billion, a sharp increase from last quarter's $1.3 billion. Overall product orders grew 18%, significantly higher than last quarter's 13% and last year's 7%. Rising memory prices are the main reason for margin pressure. Gross margin for Q2 dropped 1.2% to 67.5%. Over the past 90 days, the company's purchase commitments surged 73%, with a large portion tied to memory costs. The AI application software sector took quite a hit.