Earlier this week Tuesday, November 6th, Cisco stock closed at $34.08, 16 cents off the high for the most recent 52 week period.
But by the next day Wednesday, November 7th, Cisco stock closed down at $29.82 in after-hours Cisco stock trading action, an almost 13% price plunge.
What happened?
Well, it was simply the Cisco F1Q08 earnings conference call held after the stock market closed on Wednesday.
A key culprit during the earnings call was Cisco reporting order growth with product book-to-billed at approximately 1.
That was quite a letdown from the Cisco F4Q07 earnings conference call, when Cisco order growth was even stronger than Cisco revenue growth, with Cisco reporting that its product book-to-billed was comfortably above 1.
Across Cisco's four emerging market operations in Cisco F1Q08, order growth ranged from the low double-digits to approximately 50%.
One has to wonder whether fallout from the Cisco Brazil tax evasion scandal will negatively impact the growth momentum of Cisco's robust emerging market operations.
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