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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 76.130.0%2:43 PM EST
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To: Mephisto who wrote (41836)10/30/2000 6:09:51 PM
From: The Phoenix  Read Replies (4) of 77400
 
Mephisto,

Yeah, this kind of stuff can be an irritant in the short term but I choose to keep a longer term horizon. The company continues to execute even though these reports continue to come out.... so I think it's a matter of time (so long as CSCO does in fact continue to execute) that the analysts have to eat some crow. I think there are a number of factors at play here but I'm sure LEH want's to buy CSCO on the cheap and I also believe this re-valuation is a good thing long term. If you plan on retiring tomorrow then this isn't a good thing... or if you're day trading... but long term CSCO will prevail... and even Luke implied as much in his piece stating that CSCO is still the premier company in thier sector.

I wonder if LEH comes out in a week and says something like - we did a further detailed investigation into the telco slowdown and it appears that the predominant slowdown is in the area of telephony circuit switching. This in fact is diverting funds to data architectures and optics and companies like NT, CSCO, ALA, will benefit from what is more of a transition in spending as opposed to a slowdown.

The point is - if Luke talked to the telephony guys at the telcos then he indeed may be getting the wrong message..... In the end it's neither here nor there... you can't worry about short term stock fluctuations if you're a long term investor. Of course some will disagree with this post but forward PE's are begining to look very reasonable.
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