Betrayed Shareholders Not Particularly Interested in Routers, Switches
San Jose, Cal. (SatireWire.com) – The rumors about Cisco Systems have been circulating for months, but the earnings warning and plunge in its share price Tuesday left little doubt in investors’ minds that Cisco is not just a famous stock, but may in fact have been operating as a large company that makes complex and incomprehensible equipment related to high technology.
“I got into Cisco two years ago because I was made to understand it was really the tech stock to own,” said Cisco shareholder Anthony Timson of Rahway, N.J. “Honestly, it never occurred to me that there was anything more to it. Frankly, I feel betrayed.”
Once considered the core high-tech holding, Cisco has watched its share price fall 80 percent from last year’s peak. As a result, much more attention lately has been given to the company’s market share, revenues, and products, such as routers, switches, and Virtual Private Network concentrators. Rarely, if ever, is Cisco simply identified as a highly recommended stock or “surefire” high tech bet.
While Cisco CEO John Chambers said he is sorry investors have had to learn about the company this way, he believes the public defrocking will be good in the long run.
“Until recently, the only reason many people had heard of Cisco was because our stock was famous,” he said. “Now people will get to know us for what we do. We’ll be just like any other high tech company.”
Timson, however, disagreed. “Other high tech companies make shit I can understand,” he said.
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