Intel Corp (INTC)

[DewDiligence]

CSCO: Start with the fact that quarterly sales were slightly down Y-o-Y and yet quarterly profits were the highest in the company’s history:

http://biz.yahoo.com/rb/030204/tech_cisco_earns_8.html
“ ‘In what is probably the most challenging environment the information technology industry has ever faced, we are very pleased with our results in posting one of the best pro forma quarters in our history and the best GAAP quarter in terms of net income and earnings per share,’ said John Chambers, CEO…”

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How did they do it? Instead of lowering their prices, they got their suppliers to lower their prices. And CSCO’s competitors in most of the company’s major markets are doing a disappearing act worthy of Houdini.

Despite all the above, I don’t own CSCO and don’t recommend it at the current price. It simply isn’t cheap enough, IMO. Dew