Tech Stocks Brought Low by “Cisco Effect”

As I noted earlier today, Cisco’s cautionary market guidance on decelerating enterprise IT expenditures in the USA was a significant piece of news. It meant something not only to Cisco, but to the broader US market for technology goods and services.

As a result, the technology-heavy NASDAQ composite index took a hit today. As events unfold over the next several days, further reverberations might shake long-held assumptions and conventional wisdom in the marketplace.

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