Cisco CEO Chuck Robbins said Wednesday that he expects customers will keep spending to keep their technology infrastructure up to snuff — a sentiment at odds with some on the Street who predict a slowdown. "The [Covid] pandemic taught our customers a very important lesson about being prepared with your technology infrastructure. And I think that they're going to continue to spend as much as they can," Robbins told Jim Cramer in an interview.
"Assuming our bookings for the year are even down 10% – which is not what we're forecasting – we would project we'll exit the fiscal year with two to three times our normal year-ending backlog," he said, adding that the company's backlog typically amounts to around $4 to $5 billion dollars. "And then you look at 43% of our business coming from recurring [customers]," Robbins said.
Never heard of FTX it will change you life when you get ripped of by the Democratic party... Go slimballs
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Forbes - 🏆 394. / 53 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: CNBC - 🏆 12. / 72 Read more »