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Cisco: Estimates Slashed But No Downgrades; Gloomy Forecast Casts a Pall Over Tech

Thu, Nov 6, 2008

Consumer Electronics

Cisco Systems (CSCO) shares are down only 36 cents, or 2% this morning, to $17.03, after the company last night presented a forecast for its January-ending first quarter that had sales falling, versus analysts’ expectation for sales to rise. Despite the drastic disparity in Cisco’s and the Street’s outlook, the shares aren’t taking it too bad, though they may have inspired today’s 40-point drop in the Nasdaq Composite Index. Furthermore, while estimates are coming down for Cisco, nobody’s cut t

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Cisco: Estimates Slashed But No Downgrades; Gloomy Forecast Casts a Pall Over Tech

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