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-- 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