Cisco Systems Inc Chief Executive John Chambers said on Thursday he is beginning to see the U.S. market recover but cited challenges in emerging market economies such as Russia and Brazil. Chambers said at the companys financial analyst conference in New York that while emerging markets are extremely challenged right now, he expects 6 percent to 10 percent growth there when those markets recover. For the U.S. market, Chambers cited strong growth prospects in the enterprise market, as its sales pipeline in that segment is up 20 percent. Cisco stunned the market on November 13 by warning that revenue would fall as much as 10 percent this quarter and could keep declining for several quarters.
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