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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 77.04

-0.5%

Dec 31 3:59 PM EST

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To: Elroy who wrote (65982)	8/11/2004 11:21:24 AM
From: GVTucker	of 77400

On the inventory issue, you might be right, but that excuse didn't hold water the last time inventories started to get away from Cisco. In mid 2000, inventories started to grow, and Cisco management maintained that there was no reason to worry for much the same reasons that you're citing now. Cisco management was wrong then. The market is not waiting around this time to see if they're wrong again.

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