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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Victor Lazlo who wrote (51935)	4/21/2001 1:52:10 AM
From: ms.smartest.person	Respond to of 77400

TECH SLUMP - Commentary: Sorry, Cisco. The Old Answers Won't Work Business Week April 30, 2001 THE TECH SLUMP BY By Peter Elstrom It was a sobering moment for Cisco Systems Inc. (CSCO ) and its chief executive, John T. Chambers. On Apr. 16, the networking giant announced its revenues for the quarter closing Apr. 30 would drop 5% from a year earlier--and a stunning 30% from the previous three months--to about $4.7 billion. Cisco also said it would lay off 8,500 workers and take a staggering $2.5 billion charge to write down inventory. Cisco, which had been boosting year-over-year sales 50% to 70% in recent quarters, simply hadn't anticipated that orders could decline. "We never built models to anticipate anything of this magnitude," conceded Chambers. The new era may require a new kind of Cisco. The company became a juggernaut of the Internet Age by using its high-flying stock more effectively than perhaps any other outfit. Rather than develop most of its new technology internally, Cisco used its ......for rest of article click on linke Message 15698325