Cisco’s sales fell roughly 18% last quarter. The company is a manufacturer of technology equipment — routers, servers, and most other networking tools. As the first high-end tech company to report its numbers this quarter, Cisco is seen as a sign of the trend. And why the trend? Well, spending is still down, both in the home and at the business. That said, their profits were slightly better than expected, and their sales dip was within estimates.
So what does all this mean? Well, it means that even if we are seeing signs of “recovery,” it’s still going to take a while for companies that rely heavily on spending to rebound.