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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 76.22

+0.1%

Nov 24 3:59 PM EST

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To: craig crawford who wrote (11626)	1/16/1998 4:31:00 PM
From: Thomas Scharf	Read Replies (1) of 77400

Can you really call '94 a disapointment? I owned csco then. They came in at something like $1.02 when expectations were for $1.03/share. Over the following month the stock got hammered by nearly 50%. That situation was similar to last spring when the momentum players bid csco up after talking themselves into believing that it was going to beat estimates in a big way (go back & read the SI posts from the Dec 96 - Jan 97 time-frame & you will see lots of "irrational exhuberance"). Instead, they only just met them. We saw the price go from $75 to $46 over a very short time period. This time, though, it came back with a vengeance. In '94 it took almost a year to get back to the high.

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