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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 71.08+0.1%Nov 7 9:30 AM EST
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To: Jimbo who wrote (24589)4/23/1999 10:41:00 AM
From: RetiredNow  Read Replies (5) of 77397
 
Well, I have two things to say:

1) Those complaining about the tight trading range on this board have essentially announced to the rest of us that you are short term thinkers. Cisco is extremely high in relation to historical valuations. It is high because of the Internet frenzy. Chambers is a master at managing earnings expectations and managing the stock price. He knows that Cisco is at risky levels and knows that for some illogical reason splits fuel stock price appreciation. Therefore, he has held back until earnings can catch up with the stock price. That leads to the next thing I want to say.

2) Because of the above, Chambers almost certainly won't announce a split this quarter. I will bet anyone on this thread that he won't announce a split until, or shortly after, the 7/99 quarter. In addition, I bet it will be a 3/2 not a 2/1.

All of you complaining about no split have either lost touch with how companies are valued or you just want the price to appreciate in the short term to make short term profits. The long termers would prefer price stability and predictable, sane increases over the long term. Predictability means less risk. John Chambers is simply unmatched at giving us the least risk for these kinds of returns.
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