Cisco Systems (NASDAQ: CSCO) is often considered a stable stock for conservative income investors. It's the world's largest networking company, its stock trades at just 13 times this year's adjusted earnings, and it pays a high forward yield of 3.3%.

But over the past 12 months, Cisco's stock has stayed nearly flat as the S 500 rallied more than 20%. Let's see why Cisco underperformed the market by such a wide margin -- and if investors should consider it to be a value stock or a value trap.

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Source Fool.com