Christopher Stix Quotations

Positive news flow from Cisco's carrier business surfaced last week with two wins from China Telecom and Global Crossing. We believe the company is beginning to regain momentum in the core router business. In our view, Cisco can stabilize this business over the next several quarters.

Given a high likelihood of a slowing economy, moderating demand from the service provider sector, and unexpected first quarter 2001 seasonality, we see an increasingly likelihood of deceleration going forward.

While the market continues to be weak in comparison to last year, it appears to have stabilized, which on the margin this is good news for Cisco.

We continue to believe that business at Cisco is very good, and that good news is likely to come out of the analysts' meeting.