Is the worst over for Cisco Systems?
While tech bloggers and investors have mercilessly beat up on Hewlett-Packard (HPQ, Fortune 500), Yahoo (YHOO, Fortune 500) and AOL (AOL) lately thanks to their numerous strategic and personnel mishaps, Cisco (CSCO, Fortune 500) has all of a sudden emerged as a beacon of stability in the tech sector.
Shares have surged more than 20% from their 52-week low in mid-August.
During the same timeframe, HP has sunk nearly 30%. It hit another new 52-week low on Tuesday. And the broader market has continued to slide due to concerns about the debt crisis in Europe and the sagging economy in the United States.
So why is Cisco rebounding? Call me crazy. But having $44.6 billion in cash (or "caysh" if you say it like Cisco CEO John Chambers) probably doesn't hurt. The fact that Cisco seems to realize that it had to change also is helping.
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