Not Buying Cisco Back

I'm watching "Fast Money" right now and decided not to buy Cisco (CSCO) back for a while. Maybe some time later. But not now. The reason: just everybody on Fast Money said that stock is undervalued. Yeah, right. These guys are quite representative of Wall Street. If Wall Street thinks that something is a buy, I'm not a buyer. They probably already bought their positions (some of Fast Money guys did) and now waiting for stock to go up. Good luck, guys!
Apart from that, I absolutely don't like two points of Chambers interview on CNBC:
1. Most of the missed demand is from government entities. This demand isn't coming back any time soon.
2. Predicted growth is in range of 8-10%. Doesn't work for P/E 15. Not unless company starts paying sizable dividend.

Full disclosure: author was long CSCO until November 9 and doesn't have any positions in stock right now.