CSCO traded down 4.3% on Wednesday after the company announced their Q3 earnings and issued their outlook for the current quarter. The stock ended up the day at $20.75 and traded over 92 million shares, compared to a normal daily average volume of just over 53 million shares. The company announced Q3 earnings of 22 cents per share on sales of $7.3 billion dollars. For the current quarter, CSCO forecast sales of between $7.8 - $7.95 billion dollars, which to some analysts came as a bit of a surprise. Analysts were clearly thinking that CSCO was going to deliver more sales in the current quarter. As of Wednesday’s close, CSCO had a market cap of over $127 billion dollars, and currently has a 52 week high of $22.00 even.
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