Cisco Systems Chief Executive John Chambers said he's more comfortable with his company's long-term growth prospects than he was last month, when his quarterly sales forecast missed analysts' estimates. The biggest maker of network equipment may hit some "shallow" bumps in the next two to five quarters, Chambers said Tuesday at the Morgan Stanley Technology Conference in Dana Point. The San Jose company also plans more acquisitions, he said. Cisco disappointed investors with its last two quarterly forecasts, spurring concern that a slowing economy is hurting demand for networking equipment. "I'm more comfortable with 12 percent to 17 percent long- term growth than I was a month or two ago," Chambers said.
- Bloomberg News
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