That would be an accurate picture. I will say that CSCO was way overextended in Feb/March... there was no doubt about the bubble run up. However CSCO has outperformed the sector and exceeded expectations for the last 3 quarters yet the stock price has been halved. So, I think sentiment and a stock price that got ahead of itself has more to do with the selling in CSCO than the things you mentioned. The reason for my view is clear.... there is no evidence, real or imagined, that supports your claims that any of the items you mentioned have resulted in poor numbers for CSCO. The fact is CSCO has outperformed. So, the answer, stock price was ahead of itself and CSCO got taken down a notch... the latest selling is sentiment.
Of course if you could show me where cap ex spending
slow down...bad debt in vendor financing, bond market troubles for clecs, a p/e of 100+, actual earnings stuck at 11 cents, inventory build ups,
slowing economy, margin debt, mutual fund redemptions, risk of a world financial crisis, risk of inflation, risk of recession.... has impacted CSCO's numbers I'll recant my position. I have already responded to your .11 cents comment... you have ignored my response.
OG |
