NEW YORK, USA: Cisco Systems Inc chief executive John Chambers gave a dismal revenue outlook, stunning investors who had hoped for proof of a recovery in technology spending, and sending major tech stocks falling.
Chambers, one of Silicon Valley's longest-serving executives, is considered a good reader of industry trends. He was one of the first executives to flag the impact of the financial meltdown on the technology sector in late 2007.
Below are some of Chambers' comments in recent years:
AUGUST 2007
"I have been in this business for 30 years ... It's the strongest global economy I have been a part of."
NOVEMBER 2007
Chambers warned of "dramatic decreases" in orders from U.S. banks.
FEBRUARY 2008
Chambers said orders slowed rapidly from December to January in the United States and Europe.
"It's the most cautious I've seen CEOs in the U.S. and Europe in many years."
MAY 2009
On customer sentiment: "You can call it stability, you can call it leveling out ... for the first time many of them feel something solid beneath their feet as opposed to going into deeper and deeper water."
FEBRUARY 2010
"In our opinion Q2 marked the second phase of the recovery with additional across-the-board acceleration -- in other words, balance across the board -- in all of our geographies and market segments."
MAY 2010
"Given all the uncertainties regarding the strength and shape of the recovery, concerns about the recovery possibly slowing and the unknown extent of job creation, we encourage you to wait for additional economic data before becoming too optimistic."
AUGUST 2010
"We are seeing a large number of mixed signals in both the market and from our customers' expectations, and we think the words 'unusual uncertainty' are an accurate description of what is occurring."
NOVEMBER 2010
Chambers cites "short-term challenges" due to slow demand from service providers and public sector clients, as well as weakness in Europe.
"We are obviously not projecting growth as fast as we would like over the next several quarters..."
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Cisco CEO John Chambers' comments
NEW YORK, USA: Cisco Systems Inc chief executive John Chambers gave a dismal revenue outlook, stunning investors who had hoped for proof of a recovery in technology spending, and sending major tech stocks falling.
Chambers, one of Silicon Valley's longest-serving executives, is considered a good reader of industry trends. He was one of the first executives to flag the impact of the financial meltdown on the technology sector in late 2007.
Below are some of Chambers' comments in recent years:
AUGUST 2007
"I have been in this business for 30 years ... It's the strongest global economy I have been a part of."
NOVEMBER 2007
Chambers warned of "dramatic decreases" in orders from U.S. banks.
FEBRUARY 2008
Chambers said orders slowed rapidly from December to January in the United States and Europe.
"It's the most cautious I've seen CEOs in the U.S. and Europe in many years."
MAY 2009
On customer sentiment: "You can call it stability, you can call it leveling out ... for the first time many of them feel something solid beneath their feet as opposed to going into deeper and deeper water."
FEBRUARY 2010
"In our opinion Q2 marked the second phase of the recovery with additional across-the-board acceleration -- in other words, balance across the board -- in all of our geographies and market segments."
MAY 2010
"Given all the uncertainties regarding the strength and shape of the recovery, concerns about the recovery possibly slowing and the unknown extent of job creation, we encourage you to wait for additional economic data before becoming too optimistic."
AUGUST 2010
"We are seeing a large number of mixed signals in both the market and from our customers' expectations, and we think the words 'unusual uncertainty' are an accurate description of what is occurring."
NOVEMBER 2010
Chambers cites "short-term challenges" due to slow demand from service providers and public sector clients, as well as weakness in Europe.
"We are obviously not projecting growth as fast as we would like over the next several quarters..."