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Strategies & Market Trends : Intraday Updates, Analysis & Strategies for Daytraders

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To: Luce Wildebeest who wrote (255)	3/14/2001 3:08:03 PM
From: Lane Hall-Witt	Read Replies (1) of 589

cal -- CSCO: Yes. The market still doesn't recognize it, but that Chambers presentation was really negative. One, as I mentioned yesterday, the year-over-year growth rate Chambers cited would be achievable even with significant sequential contraction during 2H2001. Two, he added that there would be some years -- this year, for one? -- when CSCO couldn't even achieve 30 percent annual growth. Three, he strongly hinted that CSCO is losing share in some of its markets. Four, he said he doesn't expect U.S. capex spending to rebound anytime soon. Five, he said CSCO is seeing early signs of weakness in select overseas markets. And now we can add: six, he confused the Street by saying CSCO is considering a share buyback program, then retracting that, then re-confirming that. (CSCO doubtless is considering a share buyback, but probably wasn't prepared to share that news yet; it sounds like Chambers inadvertently let that slip.) Why CSCO rallied on all of this just beyond me. Buying the rumor, but this is ridiculous--.

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