Cisco will do fine this quarter. However, the forward looking will be conservative at most. Why? The telecom sector and service sector are in trouble and that would mean less big orders for Cisco.

Cisco can only count on upward growth from international market. However, that market is getting more and more competitive with companies like HuaWei eating Cisco's lunch left and right.

I do not believe Cisco's ER will have big impact to the market. Take a look at all recent events, all bad news will be ignored anyway. And most good news does not ignite the market either.

The market direction is undecided at this moment. But judging from the market internal, a mild pullback is imminent.