11:40 AM -- The growth Cisco Systems Inc. (Nasdaq: CSCO) has enjoyed in emerging markets might be slowing down, based on first-quarter numbers in a recent 10-Q filing.

Analysts seem to think Cisco will rebound. If they're wrong, it could be trouble. With weakness in the U.S. enterprise market, Cisco's been riding on its other strengths -- like emerging markets. If those growth vectors stall, Cisco's recent optimism could take a hit.

Many would say that's already happened.

— Craig Matsumoto, West Coast Editor, Light Reading