CSCO was expected to earn 10.88 billion, they missed by .o4 Billion, a third of a percent below estimates. Yet the stock tanks more than 8% after hours.
Adjusted earnings were 43 cents a share, one cent better than estimates. Is this an opportunity to buy CSCO? I am considering additional shares at $21. I currently hold 1/4 of my target position with a $25 cost basis.
CEO John Chambers is reporting there was some softness in late July sales.