(Intel) may focus investor attention on the likelihood of a pickup in Q3 (the third quarter).

Intel sees no signs of a pickup and would not call this quarter the bottom for revenues. We do not think the bottom will be reached until the summer, at the earliest, and remain cautious on the stock.

Given a high likelihood of a slowing economy, moderating demand from the service provider sector, and unexpected first quarter 2001 seasonality, we see an increasingly likelihood of deceleration going forward.

The third quarter was special.

They got a little hot in that third quarter. But we didn't still didn't give up.

They've had a horrid third quarter.