The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.
NEW YORK ( TheStreet) -- It is not secret that I have been an unabashed cheerleader of networking giant Cisco (CSCO) -- which by default would make me a so called "hater" of its chief rivals including Juniper (JNPR), Riverbed (RVBD) and to a lesser extent Hewlett-Packard (HPQ). Who has ever heard of a Yankees fan that also roots for the Red Sox? It just doesn't make sense.
But I have recently found myself secretly admiring the recent performance of one of Cisco's chief rivals in F5 Networks (FFIV), a company that I continue to consider grossly expensive by many standards -- not the least of which stems from its P/E ratio of 42.
Be that as it may, F5 continues to log quarterly performances that suggest that not only does it have its act together, but more importantly, it consistently demonstrates to investors that it has no problem growing into its valuation -- and its recent earnings announcement further affirms to the market that (just maybe) its growth expectations have not reached the level of "too high" as currently perceived.The quarter that was
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