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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 80.25

+0.9%

Dec 10 3:59 PM EST

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To: 45bday who wrote (49881)	3/13/2001 12:41:07 AM
From: Rob S.	Read Replies (1) of 77400

I agree. The problem is not interest rates. That would help if the problem was a scarcity of capital and the Internet was not built out. Yes, if the market somehow had collapsed two or three years ago, a large interest rate cut might stimulate corporate spending. But the story is much different now. Besides the Internet being much more built out than it was, corporate thinking about the necessity of rushing into expanding Internet and corporate networks has changed dramatically. Way back then an entire year ago while the Internet craze was still pretty much in full swing, corporations were expected to increase spending on Internet build outs. Although a few telecomms had already indicated a cut-back in capex would occur, it wasn't taken too seriously by the feverish market. Cisco and some other corporate managements certainly didn't help investors, except perhaps their close buddies, know that business was sure to slow. Didn't these brilliant leaders see that customers were drying up and telling them their capacity needs were satisfied?

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