Update: $19.90 now
One of these years Cisco will actually trade up after earnings. We promise. Just not yet... not yet. In the meantime, enjoy the latest carnage. But never forget: the gross margin collapse, the plunge in the consumer business, and that whole "transition" language - that's all very much company-specific. There is no way, repeat no way, that Cisco weakness can ever be systemic. And forget that Cisco was the first company to go pop during most previous bubbles. That also does not fit the script.