Cisco might seem like a rather stodgy internet infrastructurCisco might seem like a rather stodgy internet infrastructure play. There's some truth to that. Cisco's revenues have only grown from $46 billion to $50 billion over the past decade, which is hardly impressive. However, there are good things happening under the surface. For example, Cisco has focused on moving toward more subscription services and recurring software revenue instead of one-time hardware sales. This has greatly reduced the previous boom/bust nature of Cisco's business, along with leading to sharply higher profit margins