San Francisco | The resilience of corporate spending on IT equipment in the face of geopolitical and economic uncertainty has started to crack, to judge by a sudden downdraft in orders at Cisco Systems.
The networking equipment maker issued a weak forecast for its latest financial quarter late on Wednesday (Thursday AEST), after a day in which US share prices had shuddered over worries about a weakening global economy. After dropping 4 per cent in normal trading, Cisco’s stock tumbled another 7 per cent in after-market trading to $US46.66.
