Jim Cramer Is Watching Cisco's Q1 Earnings Results Thursday

TheStreet's Jim Cramer is keeping an eye on Cisco Systems (CSCO) Thursday when the company releases its first quarter results after the market close. Analysts are expecting Cisco to post earnings of $0.53 a share on $12.07 billion. Cramer says, 'I think a lot of people have given up on Cisco, they kind of feel like it's just a slow grower, there's not much happening there. I disagree. I think [CEO] Chuck Robbins is reinvigorating the company, I think that there's a lot of hope that there's going to be a huge spending cycle worldwide on communications equipment and I think the stock is dirt cheap, I mean I'm literally in that anomalous situation of hoping it comes in on what people perceive is a weak quarter so we can buy more for Action Alerts [PLUS charitable trust portfolio].'