Word: cisco
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Dates: during 2000-2000
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...negative psychology--the fear--is further evidenced by how investors react to news. Before the spring sell-off, even bad news was a reason to buy because such an announcement cleared away any reason to sell. Now stocks like Cisco and Hewlett-Packard are falling even on exceptional earnings reports. With the good news out, the new logic goes, there's nothing left to keep the stock up. Better sell. The scary thing is that there is no way to tell how long this irrational gloominess will rule. Investors should come to grips with the possibility that we have entered...
...ratios look even worse." In any case, whenever a Fed chairman can't stop the economy, trouble is definitely in the wind. And now that investors have glimpsed the tech sector's mortality, and read the news articles about venture capitalists turning off the money - and seen venerable Cisco Systems mired in the low 50s - trouble from the Fed is likely to hit the NASDAQ first and hardest for a while. Those techies had better pray that the next batch of economic numbers are tepid enough to get Greenspan's foot off the brake...
Surely tomorrow's giants will come from the sectors that are revolutionizing business, no? They well may. But remember the stupendous scale we're talking about: combining IBM, Microsoft, Intel and Cisco, for example, wouldn't even come close to hitting our $200 billion mark. That fact points up a hard truth about corporate size. Infotech--or telecommunications or entertainment--may well be the world's largest industry in coming decades, but that doesn't mean it will harbor the world's largest company...
...commercials that are the most interesting part, though: the really important advertising is hiding in plain sight on the field. The Microsoft Mustangs are playing the GM Generals at Cisco Stadium in a town called Ciscoville--formerly known as Philadelphia. Corporations will pay big money for the right to digitize logos onto the T shirts of the fans in the stands. Logos of sponsors won't be painted on stadium signs or on the field anymore. Thanks to a trend that is already happening, they'll be digitally embedded in the image on your screen. The logos you see will...
...Terrible Tuesday--the day the NASDAQ fell 13.6% but got almost all of it back in a matter of hours--are now worse off for their efforts. The index finished on Friday at 3321, well below the week-earlier bottom of 3649. Investors who had smugly picked up Cisco at $64 and watched it rebound to $76 were by late last week the proud owners of a $57 stock. That will probably work out for them longer term. But raise your hand if you think such chastened buyers are going to bottom feed hungrily again real soon. Even if they...