-- Telecom and dot-com customers are disappearing

-- The corporate market, 65% of Cisco's sales, will grow only 15% to 20%, down from a high of 30% in recent years

-- The IT spending slowdown is spreading to Europe and Asia--more than half of Cisco's business

-- Phone companies' capital outlays could fall 10% or more this year

-- Cisco is losing market share to Juniper Networks in the lucrative router market