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Technology Stocks : Alcatel (ALA) and France
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To: Imran who wrote (3620)9/6/2001 5:38:22 AM
From: elmatador   of 3891
 
"half of top 100 companies on Nasdaq will not be around five years from now."

Cisco's Chambers predicts "rapid consolidation"
By Reuters staff

Wednesday, September 05, 2001



The chief executive of tech bellwether Cisco Systems Inc said on Wednesday the merger deal between Hewlett-Packard and Compaq Computer will likely be just one step in a rapid consolidation of the sector.

Speaking at a Tokyo seminar a day after the announcement of the computer industry's biggest ever merger, Chambers said a recession in the IT industry and cuts in corporate capital spending would cause a drastic shake-out in the sector.

"I think what you saw with Hewlett-Packard and Compaq is just one step.... There's going to be a very rapid consolidation in the industry across all segments," he said.

Last month, Cisco stunned the industry by reporting a 99 percent dive in fourth quarter net profit.

Chambers said companies that can't adjust to the new economic conditions and the high-paced Internet age would just disappear.

"You will see both consolidation and you will see a large number of companies just plain go out of business," he said.

"Within the Nasdaq as an example, I do believe that out of the top 100 companies on Nasdaq half of them will not be around five years from now."
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