The numbers themselves tell a pretty grim story, so if you're going to hang your hat on this, you have to believe the qualitative commentary rather than the quantitative information.

Oftentimes, executive [pay] tends to rise at a slightly higher rate. All categories have been pretty even.

Intel's pre-announcement goes a long way to explaining softness in the DRAM market. PCs consume well over one-half of all DRAMs.

Shorter-term investors should probably stick with names that can show some building momentum in [the first half of 2002].

I think a lot of people were a bit nervous about this quarter and there might be a bit of a collective sigh of relief that they pulled it out and that should be viewed positively. The second half of the year is likely to be a whole lot better.

I don't think were anywhere close to the bottom.