Cisco Sees Downturn Continuing, Spreading
"Chambers said the company had seen the issues expand to Asia Pacific and that it saw the early signs in Europe. He urged U.S. government agencies to take more drastic remedial action."
Of course, this has nothing to do with Cisco products or its stock price. I might have missed it but I didn’t see other CEOs whine about the downturn so much. And only a few quarters ago guys such as Chambers explained tech was a driving factor to eternal productivity growth (and you weren’t supposed to be surprised by quarterly results, just a quarter after unmitigated boasting). Maybe these gains brought by technology didn’t materialize enough across all industries to sustain society as a whole. Then Cisco is not the only one revising its forecasts ("the company’s enthusiasm for e- commerce has not lessoned (sic)"? someone should be lessoned indeed at the NYT!)
03/28/01 update: another deflating icon (inflated icons?), Oracle: Another Moment of Truth.
04/08/01 update: Blind Faith, "How soaring ambition, terminal optimism and false hopes brought down the high-tech industry".
04/24/01 update: Cisco or Crisco?
08/13/01 update: Cisco Met Expectations? That’s Hogwash
