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Thursday 10 May 2012

Cisco sees dark clouds on the economic horizon

http://money.cnn.com/2012/05/10/technology/cisco/index.htmchart_ws_stock_ciscosystemsinc_2012510104531.top.png

NEW YORK (CNNMoney) -- Networking giant Cisco late Wednesday offered a very cautious outlook for the near future. As CEO John Chambers sees it: The global economy isn't yet getting worse, but businesses around the world fear that it may soon.
As a result, they're becoming hesitant to spend. Cisco said its customers are buying cheaper products, requiring more managers to sign off on purchases and holding off on upgrades.

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