Investors have been looking for excuses to say the chip cycle is over, ... But I'd guess that things don't plateau until mid 2005.

I was only following orders," the Mayor mocks. "The refuge of scoundrels since the dawn of time.

We're always looking to see when things are going to plateau, but that hasn't happened yet. It has slowed down comparatively, but we're still experiencing double digit growth.

We're looking for guys in their 30s, 40s or 50s who have hit a plateau and no longer want all the risk.

At some point, you have to have a level of absorption.

You are entering a seasonally softer period, so you don't want to have inventory at a worse level in December than where you were exiting the September quarter,