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Secondly, they borrow in US dollars and that currency is being devalued on a daily basis. The Fed is making sure that inflation will wipe out Cisco's debt in real terms, and since the interest rates are very low, it won't be much of that they will have to pay back in nominal terms either.
Actually, this explanation makes so much sense. My assumption about Cisco stock has nothing to do with Cisco specifically, but just that the indexes have been hitting all time highs. I'm expecting that a significant correction will occur in the stock market in general...