I am not bullish on the market. I am very concerned, but I have always been a holder of Cisco stock and I will continue to hold it.
Their results tonight were great - a 25% growth in profit and an 18% growth in revenue.
It seems clear that phone companies (and now cable companies after the Scientific Atlanta acquisition) have turned to Cisco for new gear to help deliver a triple play - Internet, TV and phone service - to consumers and businesses.
Cisco also raised its long-term revenue growth forecast to 12% to 17%.
Most importantly, John Chambers, has been very cautious about the company and about forcasts for the last seven years and has therefore regained credibility on Wall Street. Tonight, he said the internet is entering its second major phase, brought about by new technologies like social networking and online video. He said such trends will result in innovation and productivity increases for businesses, which will benefit Cisco. Chambers concluded: "We believe there's an opportunity to be an instant replay to what occurred for Cisco in the very early 1990s."
Wow, did you hear that? This stock is ready to roll higher and higher!Sponsor Updates and Offers
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Related Articles:
Google and Cisco Aren't in the Mortgage Loan Market by Sam Cass - Aug 10, 2007
In Europe, a push by Phone Companies into TV by R Polk - Aug 29, 2007.
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