| I don't know, Eric. Worst case scenario, if Cisco can eek out $1B in real earnings (not proforma) this fiscal year, then I'd say they are worth about $7. However, if they can earning $2B, which is a very large stretch, then I'd say they are worth around $15. So if you take the average, I think they are worth around $11. However, I'm willing to give Cisco a 25% premium, because hell, they are Cisco. So that brings my estimate of what I'd be willing to pay to around $14. No matter how I slice it, I don't think we're overvalued here. I think at best we are fairly valued. At worst, we have a two month slide ahead of us. I hope you are right, but if not, I'll be picking some up soon on the cheap. |
