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

To: Lizzie Tudor who wrote (65421)	5/11/2004 11:06:40 PM
From: Peter Joseph	Read Replies (2) \| Respond to of 77400

<< especially in a service business which is Cisco's current migration plan >> Last time i checked, Cisco was still an equipment vendor. Never have i got the impression that they are becoming a services company. Even when services provided 16% of revenue during the most recent quarter. IMHO, services play a critical role in a 24x7 network 'utility'. Relevant keywords from the call are "networked architecture evolution", "end to end products" and "network solutions". Now you were not thinking of Lucent, AT&T or IBM, were you? <g>

To: Lizzie Tudor who wrote (65421)	5/11/2004 11:14:22 PM
From: rkral	Respond to of 77400

Lizzie, re "The point is that with reserves like this, there isn't a huge chance that Cisco will disappoint in an immediate quarter." If "deferred revenue" is "reserves" as you describe ... Since reserves increased .. wouldn't that mean Cisco didn't dip into their reserves to beat quarterly EPS estimates by their usual penny? Indeed wouldn't it indicate business was so good, Cisco was able to increase its reserves? If the answers are "yes", I don't understand your counterpoint to Kirk's statement about stock repurchases. Please explain. Ron