We believe the company is going in the right direction since the moves not only allow it to innovate faster but also streamline its businesses around its core networking products that contribute almost 40% to our estimated $26.50 fair value for Cisco, with cash contributing another 20%. At the same time, we expect Cisco to benefit from the long-term growth trends of data demand and cloud computing which continue to remain sharp. Our price estimate is about 25% ahead of the current market price.