Cisco dives, but networking stocks look insulated: At the Open
Cisco (CSCO, -7%) is struggling on downbeat guidance after the bell yesterday. But the overall tech and networking sectors are shrugging off the slump.
For fiscal Q1 2021, Cisco guided to a revenue decline of 9-11% year-over-year, with gross margin of 64-65%, operating margin of 30-31%, and EPS of $0.69-$0.71 (below consensus for $0.76).
As you would expect, the pandemic has had the most impact on our enterprise and commercial orders, driven by an overall slowdown in spending, CEO Chuck Robbin…
