John Chambers, CEO of Cisco, is well know on Wall Street as the person who has the pulse on the US economy. From where he sits, he is also has a bird's eye view of the world economy.
To hear him say, "Brutal times are coming...," one has to sit up and listen:
From Business Insider
Cisco CEO: 'Brutal' Times Are Coming For The Tech Industry
JULIE BORT | MAY 20, 2014
Cisco CEO and walking global economic barometer John Chambers believes that the rapid pace of change in the technology industry is going to create a bloodbath for the major tech players, and every other company on the planet.
"You are going to see a brutal, brutal consolidation of the IT industry where out of the top five players, only two or three of us will be meaningful in as quick as five years," he said on Monday, during the opening keynote of Cisco's annual customer conference, Cisco Live. "We know we have to change."
He suggests that those top players are Cisco, IBM, HP, Microsoft, and Oracle. And although he doesn't predict which ones will go by the wayside, he did diss competitors HP and IBM by name, saying, "When we talk about the top five IT players, watch how disastrous the last 2.5 years have been where an HP and an IBM haven't had revenue growth for two to three years."
This is the chart he showed, documenting how many quarters of growth each have had. It shows Microsoft, not Cisco, doing the best with 14 quarters of 3% or better revenue growth.
Read mode from Business Insider >>
To hear him say, "Brutal times are coming...," one has to sit up and listen:
From Business Insider
Cisco CEO: 'Brutal' Times Are Coming For The Tech Industry
JULIE BORT | MAY 20, 2014
Cisco CEO and walking global economic barometer John Chambers believes that the rapid pace of change in the technology industry is going to create a bloodbath for the major tech players, and every other company on the planet.
"You are going to see a brutal, brutal consolidation of the IT industry where out of the top five players, only two or three of us will be meaningful in as quick as five years," he said on Monday, during the opening keynote of Cisco's annual customer conference, Cisco Live. "We know we have to change."
He suggests that those top players are Cisco, IBM, HP, Microsoft, and Oracle. And although he doesn't predict which ones will go by the wayside, he did diss competitors HP and IBM by name, saying, "When we talk about the top five IT players, watch how disastrous the last 2.5 years have been where an HP and an IBM haven't had revenue growth for two to three years."
This is the chart he showed, documenting how many quarters of growth each have had. It shows Microsoft, not Cisco, doing the best with 14 quarters of 3% or better revenue growth.
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| Cisco |
Read mode from Business Insider >>
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