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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Jacob Snyder who wrote (55216)	11/8/2001 12:26:20 PM
From: Cary Salsberg	Respond to of 70976

I think you need to review the CSCO numbers. The last CSCO report has been the greatest stimulus for this move and the idea that this is not another bear trap but the beginning of the next bull move. CSCO saw a small sales increase and is projecting continued increases. They went from $12B to $18B and were headed to $24B when the bubble burst. They seem to be heading higher from a $17.5-18B base. I think their business might have already turned FIRST! In technology, systems drive chips which drive equipment. CSCO is a primary driver. I agree with your assessment of MSFT and INTC. I have an ironic hypothesis that MSFT is the source of INTC's fall from the #1 semi position, because MSFT is the most important reason that INTC's 4GHz processors will be greeted with a yawn. Getting back to systems makers, CSCO seems to have had far better results and to be in far better shape with respect to most of its competitors and suppliers, than systems makers in other sectors, and the contrasting condition of CSCO and LU and NT makes CSCO's valuation and potential not so out of line.