Cisco

"A Prediction Today, the combination of record corporate cash levels and generally low interest rates and P/E ratios presents a historic opportunity for aggressive capital allocation. This situation is particularly pronounced among the largest, bluest-chip technology businesses—companies like Cisco, Microsoft, and Dell—many of which are still run by members of their founding management teams, have enormous cash balances, and trade at unprecedented single-digit P/E multiples. I think it’s likely one of these firms will reverse its historic emphasis on R&D investment and move to optimize returns through a combination of dramatically increased buybacks or dividends. Were this to happen, the market’s response would likely be rapturous, and one can imagine Henry Singleton as the CEO of one of these companies, rubbing his hands together in delight at the opportunities."

"Investment in research and development of equipment and software positions Free as one of the most advanced operators in the implementation of innovative technological solutions. Over time, the group has become a recognized interlocutor of all major global equipment manufacturers such as Intel, Cisco, and Alcatel-Lucent. The brand image is so strong in France that the best French technicians fight to join its teams. With the emergence of the internet in the daily lives of the French, the number of access providers has multiplied. In addition to independent operators for local coverage, promising competitors with particularly strong support include Wanadoo from the France Telecom group, Club Internet supported by the German T-Online after being created by Lagardère, the Italian Tiscali, LDCom, and cable operator Noos."