Cisco Systems Inc. (NASDAQ:CSCO): Current price $24.18
Chief Executive John Chambers appeared Wednesday on CBNC’s Closing Bell along with Google Executive Chairman Eric Schmidt. The latter asked if global growth would still mostly come from Asia to which Chambers replied that while the United States will probably continue to be the “engine of growth” for the world economy, he perceives strength in a number of markets in the intermediate and long term for technology.
The Cisco CEO went on to say that, “I think it’s going to be more balanced than that. Europe’s recovering better than most people anticipated, especially in Northern Europe. The engine of growth is clearly the U.S.” Chambers also remarked that emerging markets, in the Latin America and Asia-Pacific regions, are “a little bit mixed,” and that China continues to be challenging, as well.