We’re waiting with bated breath for tomorrow’s announcements. Not only will we find out who our new president will be but we will also know how well (or not ) Cisco did during its first fiscal quarter. And if the nation does wake up to discover that John McCain is our new president we’ll be holding some more breath as we wait to discover whether McCain does pick Cisco CEO John Chambers for the treasury secretary job. On the earnings front, the forecast isn’t good for Cisco’s Q1. “Weak” was the word used by Merrill Lynch analyst Tal Liani when describing Cisco’s results and guidance, as cited by Barron’s Tech Trader Daily.
Liani is also cited as noting that sales of high- and low-end switches have weakened “considerably”. Apparently, Cisco is feeling the squeeze from rival HP and customers are interested in lower-end products with limited features, Liani continues.
Despite the gloom, Cisco stock jumped 6.3% to $18.29, according to Forbes, “amid a broader Election Day rally.” However, the shares are down 33% from last year, Forbes adds.
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