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Cisco Systems (CSCO) Moves Aggressively Off Lows
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After trading down over 8% in extended-hours trading, Cisco Systems, Inc. (Nasdaq: CSCO) is making a strong push back to break-even.
After the close, Cisco reported in-line Q2 results, but provided cautious guidance - saying Q3 sales growth will only be 10%, which was below Wall Street's expectations of 15% growth. In addition, CEO John Chambers said US and European customer are "cautious."
Value hunters are again looking at Cisco, and feel that the 30% 3-month sell-off shows that a US/Euro slow-down was mostly built in. Smart traders know that buying the stock around $20 per share has proved to be a profitable trade since the dot-com bust. Currently the stock is around $22.80.
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