Investors Business Daily celebrates its 25th anniversary and for that occasion, Cisco’s (CSCO) CEO John Chambers shared some of his thoughts about the past quarter-century in technology and its prospects for the decades ahead with IBD.
IBD: What thoughts do you have for investors on the current economic mess?
Chambers: I spend a lot of time talking to a broad range of our customers of various sizes, geographies and industry segments, so I have good visibility each quarter into how they are doing. Nearly 80% of our revenue is nonrecurring, so we have a clear understanding of who is spending and who is not. I’m an optimist as to when the recovery will occur, but I’ve consistently said that we have to look at the way the world is and not the way we’d like it to be.
In this current economic environment, we are focusing on those things we can control and influence: controlling our discretionary spending while also positioning ourselves for the upturn, and investing in areas where we believe there will be growth in the future, such as video, virtualization/data center and collaboration technologies, like TelePresence, WebEx (video conferencing) and more.
You’ll see we’re being aggressive with our investment into our key priority areas. The release of our Unified Computing System in the data center, our acquisition of Pure Digital, which makes Flip Video cameras, as well as TelePresence for health care and small and medium businesses are a few examples.
Read the complete interview here (4 pages)
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