This shows Intel's determination to stay ahead of the pack and invest in next generation technology in order to meet the market's needs.

Intel will be a key beneficiary of any kind of recovery in information technology [IT] spending in 2004 and 2005.

This is disappointing. It sounds like a combination of both weaker demand for PCs and the continuing impact of some of these inventory excesses hurt them. All in all, it's a pessimistic near-term outlook.

We expect Apple to broaden its use of Intel processors with the likely introduction of new low-end and mid-range notebooks and also a likely Mac Mini home entertainment platform based on Intel architecture.

I think the impairment charge seems to be a big negative surprise to investors,

Intel has a history of making smooth leadership transitions.