Cisco Systems, Inc. (CSCO) pivot & Support Levels - 8/15/2013
Share of Cisco Systems, Inc. CSCO is down in ah in bade earning news. Cisco Systems, Inc. CSCO will have resistance around $26 and support at $22-$23.Cisco Systems is a strong buy below $20 share for long term buy list for 2014 because this stock will be come just need patience.But stock will stay $20-$23 range long term.I am looking for next 12 months $30 price target.
Here is is csco earning report
- Cisco Systems (CSCO): FQ4 EPS of $0.52 beats by $0.01.
- Revenue of $12.42B (+6% Y/Y) beats by $0.02B
- Cisco (CSCO) spent a whopping $1.2B on buybacks in FQ4, up from FQ3's $860M and boosting EPS.
- FQ4 product sales (78% of revenue) +6% Y/Y, up from FQ3's +5%. Services growth fell to 6% from FQ3's 7%.
- Sales/marketing spend -2% Y/Y to $2.36B, R&D +7% to $1.5B.
- FQ4 gross margin was 62.1%, down from FQ3's 63% but slightly above guidance of 61%-62%.
- Expectations were definitely high.
- CC getting started. Guidance should be provided.
- FQ4 results, PR
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