Market Overview

Saturna Capital Institutional Investing's Paul Meeks Rolls Out The Tech Talk

Saturna Capital Institutional Investing's Paul Meeks Rolls Out The Tech Talk

Paul Meeks, Saturna Capital Institutional Investing director of tech, appeared on CNBC's Squawk Box Friday morning, where he talked about Cisco (NASDAQ: CSCO) CEO John Chambers' comments on yesterday's show in which he discussed some of the company's recent numbers and decisions. He also talked about Dell's (NASDAQ: DELL) struggles in the evolving tech world.

Cisco met analysts' expectations, their guidance was nearly aligned, Meeks said, yet they still fired 4,000 of 80,000 employees. He noted that Chambers didn't cite that last year, the company only had 66,000 employees.

"So they're up substantially, but they are cutting about a third on the incremental employees that they've added in the last year," said Meeks.

Meek believes that holding onto Cisco's stock is worthwhile.

Related: Cisco Systems' John Chambers Discusses Adjustments, Beats And Cuts (CSCO)

The tech expert also talked Dell, saying that things are bad for the company, which he believes isn't facing a transitional problem, but a "secular decline," said Meeks.

"That's why when this company first delved into going private, a lot of venture capitalists and private equity firms looked at the company, and 10, 20 years ago this would've been a marquee deal that everybody would want to be involved in," said Meeks.

"But nobody wanted this deal, because the PC business is in a bad way."

Dell has viewed the decline in the PC industry, Meeks said, going on to say that the leadership they've been under as a public company failed to make some pivotal changes.

"What makes us all think that as a private company they're going to do it better?" Meeks dished out.

At the time of this writing, Jason Cunningham had no position in the mentioned equities.


Related Articles (CSCO + DELL)

View Comments and Join the Discussion!

Posted-In: Earnings News Rumors Futures Hot Markets Tech Media Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at