Cisco CEO John Chambers spoke with FOX Business Network’s (FBN) Liz Claman about his concerns surrounding a possible sequestration and how it would affect Cisco Systems, Inc. (NASDAQ:CSCO). Chambers said, “we have categorized it as potential pause” and that “the market may get a little concerned.”
Video and excerpts below:
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On how Cisco Systems, Inc. (NASDAQ:CSCO) is preparing for a possible sequestration:
“Well we have modeled for it. We would categorized it as a potential pause, not just in government spending – the market may get a little concerned, but our trend here is off of, unfortunately a very low base in terms of GDP growth. Most of my CEO counterparts have their U.S. GDP at one and a half percent current growth levels – give or take a half percent and normally take a half percent, so we would assume that if this did hit, it might cause a temporary pause, but we think the trend is slowly up and to the right. And we see that in our key customer businesses, which are usually a very good indication. It could cause a temporary pause, but I think that’s what it I will be.”