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

To: Wyätt Gwyön who wrote (53073)	5/17/2001 8:04:48 AM
From: JakeStraw	Read Replies (3) \| Respond to of 77400

Valuation Is Too Rich For Cisco - theinternetanalyst.com CISCO SYSTEMS (CSCO): First Union Securities lowered its rating on Cisco Systems to Market Perform from Buy on May 8. The data networking giant's shares have seen a recent run-up to the $20 range, which, to First Union, is too rich. The shares closed at $19.05 on May 11. The firm's analysis of the service provider market suggests that the growth rate will return to 20% in the next 24 months. First Union believes that an appropriate price-to-earnings multiple for a stock with a 20% growth rate is between 20 and 30 times the forward-year earnings, implying a trading range of between $10 and $15. Earnings estimates for calendar 2002 remain unchanged at $0.50. Fiscal year EPS forecasts for 2001 and 2002 are $0.39 and $0.24, respectively.

To: Wyätt Gwyön who wrote (53073)	5/17/2001 8:58:35 AM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 77400

correction: Fidelity only dumped 139 MILLION csco shares according to this report>> In an analysis of the Fidelity filing, newsletter Fidelity Insight found that five of the firm's 10 largest first-quarter stock sales were technology-related. For example, Fidelity reduced its holdings of networking giant Cisco to 175.4 million shares on March 31 from 314.7 million at year end. Storage leader EMC fell to 43.1 million shares from 84.6 million and database company Oracle was reduced to 88.4 million shares from 160.8 million. interactive.wsj.com