It's an industry with strong growth. We thought that rising raw-material costs would reduce corporate investment in technology, but that didn't happen. Growth and investment are there.

Now everything depends on economic data. I don't see the market declining. Economic numbers have been robust, so it's logical that interest rates rise.

We are very bullish on the industry.

If oil stays around $60, it shouldn't stop the S&P 500 from climbing, considering the strength of the economy. Companies have gotten better at controlling their costs when faced with high oil prices.

We wouldn't make a huge investment in such a young technology that hasn't yet stabilized. It wouldn't be a good use of tuition dollars.

It's a way for Microsoft to leverage the investment they've already made in this technology. I don't know if this move is to appease banks. It's more to allow Microsoft to generate revenue.