But breakthroughs in areas like mobile computing and Web-based, or "cloud, " services are "just beginning, " he says, and emerging markets have shown a voracious appetite for technology.

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Specifically, mobile computing is changing the Web in a big way and the old rules are changing.

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Lloyd says Cisco should benefit from a confluence of major current trends in computing, including the transition to mobile computing, the accelerated adoption of cloud services and the explosion in Web video.

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Dell predicted a growing shift from fixed to mobile computing, but said technology such as automotive and handheld devices and Web-enabled phones are a complement and not a replacement for the PC.

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