I would be surprised if Cisco went bankrupt overnight, but to me their future looks quite bleak. Every day less companies need to buy their hardware as more move to the cloud. The biggest tech companies can build their own hardware. And the hardware isn't extremely technically advanced enough to prevent commodity competitors.
So one day if the revenue begins shrinking and they double down by going into debt to expand, then yes they could be facing bankruptcy just like Nortel.
So one day if the revenue begins shrinking and they double down by going into debt to expand, then yes they could be facing bankruptcy just like Nortel.