HEXUS.sharewatch: Nokia and Cisco gain despite challenges

It was a relatively quiet week on terms of change, but that didn't mean there weren't plenty of sub-plots.

Chief among them was the acknowledgement, or otherwise, of challenges faced by certain companies. Cisco CEO John Chambers published an internal memo, in which he revealed that he thinks Cisco has taken its eye off the ball in some areas, and needs to refocus. Cisco's stock went up over three percent last week.

Nokia was faced with the humiliation of being overtaken in terms of market cap by rival handset-maker HTC last week, but such is its continued public vowing to repair its situation in the smartphone market that investors were unperturbed by this news.

The current consensus seems to be that NVIDIA, and specifically its Tegra 2 chip, still face some major challenges to its mid-term success, mainly from Apple. This may have contributed to the fall in NVIDIA's shares, although Apple's didn't do much better.