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With the Dow Jones Industrial Average ($DOWI) hitting new record highs as we head into the final stretch of 2023, value-minded investors might be struggling to find bargains in this red-hot market. However, there's one blue-chip stock among the Dow 30 that looks cheap at current levels, despite its mega-cap status.
To be sure, Cisco Systems (CSCO) isn't exactly the high-growth, flashy tech star it once was during the days of the dot-com boom. While artificial intelligence (AI)-linked tech stocks have taken flight in 2023, CSCO has managed an incredibly modest gain of 4.5% since the start of the year. So, if you're looking for multibagger share price returns, look elsewhere - but with CSCO priced at a discount to its sector peers, and sporting an attractive dividend yield, this tech titan could be a clutch value play for the buy-and-hold crew right now.
