How CSCO is able to generate 70+% gross margins is amazing to me. Just simply amazing. Especially in the kind of environment we are in. Either Chambers is the most incredibly capable CEO on the face of the earth, or CSCO's clients are the most stupid on the face of the earth for paying this kind of top dollar (especially given the price competition in this kind of environment) when they can get the same functionality from equipment at 50-70% cheaper prices. Just amazing. My hat is off to Chambers for having convinced the world that his equipment have some kind of magic dust in them. <vbg> Congrats.
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