Pat,
I believe that the guidance you will see with Q1's numbers from many of these players will be cautious, but spun otherwise (to the best that they can market a positive spin on a generally weakening economic environment).
I think you'll agree that a LOT has happened in 9 months. CEO's will blame the econony, give some hope from other than US geographies, temper over-zealous estimations, and indicate that the acceleration of earnings is not in the ST cards....
Wall Street reacts by saying: "So with all this, do I really wanna pay this multiple for this stock?" You've seen the answer to date. So I hold little hope for a V bottom on our favorites, and a return back to our former high-flying days (or even a close facsimile of such activity).
So...all in all, I believe the tone of that article is correct. I think companies will slow their buying before they cut people from their corporate headcounts.
Sam's correct. What I posted is NOT a specific FO article, but there is an general infectious creeping slowdown that is permeating all aspects of enterprise and carrier infrastructure players. To me, it's relatively undeniable for at least 6-9 more months. LT, it's the correct place to be.
I am sure, in a very constructive way, that we'll all take a good hard look at this after our favorite companies report in Q1. There will be a lot to listen very closely to.
Steve |
