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Amazon.com reportedly squashes rumor it's looking to sell its own network switches

Shares in Cisco Systems took a beating after a report emerged that Amazon Web Services was considering selling its own network switches

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The report weighed down Cisco shares, a leading provider of network switches

A senior cloud-computing executive at Amazon.com Inc (NASDAQ:AMZN) has denied a recent report that Amazon Web Services is looking to sell its own network switches, according to MarketWatch.

The story, which emerged last week in The Information, pushed down shares of Cisco Systems Inc (NASDAQ:CSCO), a dominant player in switch sales, which has a long-time business relationship with Amazon Web Services.

An executive at Amazon Web Services dismissed the story outright that it was contemplating a move to sell its own network switches.

Read: Amazon expands Prime Day making it epic with more than a million deals

“Cisco and AWS have a long-standing customer and partner relationship, and during a recent call between Cisco CEO Chuck Robbins and Amazon Web Services CEO Andy Jassy, Andy confirmed that AWS is not actively building a commercial network switch,” a Cisco Systems spokesman said in a statement to MarketWatch.

Amazon did not reveal to MarketWatch whether it was working on building its own networking equipment. It simply said that it had no immediate intention of selling this sort of equipment to other companies.

Cisco shares rebounded after Amazon's rebuttal of the story, jumping 1.3% to US$42.21 in pre-market trade while Amazon shares were flat at US$1,831.87.

Quick facts: Amazon.com, Inc.

Price: 1732.5 USD

NASDAQ:AMZN
Market: NASDAQ
Market Cap: $859.06 billion
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