With a P/E just over 10, a dividend yield of 3.2%, there is little downside risk. With the overall market trading at a P/E of 15, it is only a matter of time before people start rotating out of the stocks with P/E's of 17-20, and into CSCO.
Not only GME. Look at all the stocks with more than 33% of float short (NFLX, TSLA to mention a couple of others). It looks like some aggressive hedgies are going after the shorts big time. i can only imagine the pain.
All bad news has already been priced in. We are down from $29. Although earnings on Tuesday won't be a blow-out, what will be said about the second half of 2013 will definitely be much better. I say we pop to $24 on Wednesday, and began the trek slowly back to $29.