The Rising Influence of Rising Affluence

[DewDiligence]

CSCO -7% on soft outlook, but China sales soar:

http://www.wsj.com/articles/cisco-profit-rises-but-outlook-disappoints-1447363607

…the company projected revenue and profit in the current quarter below analyst estimates. The company cited lower orders due to macroeconomic factors and currency-exchange issues.

…[CEO Chuck Robbins] indicated the problems should ease later in the second half of the fiscal year [CSCO’s FY ends on Jul 31].

In one positive sign, he said Cisco’s orders in China jumped 40% in the first quarter after a long string of declines because of local fears about the security of foreign hardware.