NEW YORK ( TheStreet) -- With another quarter in the books for networking giant Cisco ( CSCO), it seems not a whole lot has changed, which for the company is a good thing. What this means is that for now seven consecutive quarters, Cisco has beaten its earnings estimates -- a pretty remarkable accomplishment considering how the entire sector has been ravaged by poor economic spending.While this has caused rivals such as Hewlett-Packard ( HPQ), F5 ( FFIV) and Juniper ( JNPR) to consistently underperform, Cisco continues to show growth where the competition have not. Nonetheless, when discussing these accomplishments Wall Street remains broadly unimpressed. However this time, aside from exceeding expectations, Cisco also offered a much rosier outlook than many had anticipated. In terms of the stock, I think value investors would be wise to appreciate just how undervalued the shares are at current levels.