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Top Tech Execs: What Slowdown?

Wednesday, 17 Nov 2010 | 6:31 PM ET

Executives from two technology companies on Wednesday told CNBC they're not seeing the weakness in the public sector that Cisco Systems commented on last Thursday, reports CNBC's Jon Fortt.

Living on a Cloud
CNBC's Jon Fortt has the details on the future of cloud computing from VMWARE CEO Paul Maritz.

Commentary from executives at both Microsoft and VMware on Wednesday suggest that growth problems reported by Cisco are not widespread, but limited to the networking-equipment giant alone.

Cisco CEO John Chambers on Thursday warned of slower revenue growth because key consumers continue to reduce spending. Paul Maritz, CEO of VMware, said Wednesday he hasn't seen any public sector weakness, adding growth is strong.

"I think that's driven by the fact that businesses have decided that they have to take substantial spending out of the lower levels of I.T., out of the infrastructure and virtualization is one of the key ways that they can do that," explained Maritz, adding that he're projecting growth well into next year. "We're benefiting from the rebound off 2009 and we're expecting to see that going into 2011."

Maritz also told CNBC he feels good about Europe and will be closely watching its economy in 2011, reports Fortt.

Watch the video to see the full report.

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