I think it (the sell-off) was very overdone. For some of these companies, the fundamentals remain very strong.

[However, Salomon Smith Barney reiterated its] buy ... We think the fundamentals at Cisco remain strong, its end markets robust, its overall competitive position healthy, and its outlook as an enterprise superb.

We do not think these strong gains have been irrational or speculative, they are based in fundamentals.

I'm a bit worried about the consumer; that's one area that could be pinched.

My sense from just this brief analysis is we may avoid a rate hike in August. If you believe the economy is slowing down, we may be at the end of interest rate increases.

I think the worry is they are going to say something negative about the third quarter.