Drew Peck Quotations

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

They had an upside surprise in gross margins, but their guidance for 2002 is basically flat from here.

In light of the huge upside we saw last quarter, I think a lot of investors might have been expecting a little bit better. That may be a nagging problem when you consider that the stock was discounting fairly high expectations already. I suspect there could be some weakness as a result of that.

The PC business looks like it's going to be struggling for most of next year. If you look a little bit outside the PC world and look at some of the things that are going on in the consumer and industrial sectors, looks to me like there is going to be a nice rebound coming.

The assumption is that a lot of the problems that we're seeing in the semiconductor industry now are related to the economy, and any move by Greenspan to shore up the economic situation we're seeing is going to be very beneficial.

Obviously, this company is having big problems. It's cash flow negative. They are now at the point where they are selling off pieces of their business to subsidize the remaining piece. All their eggs are in one basket.

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

Integrating graphics with the processor compromises performance of the graphics. The problem isn't that people aren't interested in the low-end PCs selling at $600, it's that people aren't interested in processors whose performance is compromised because the graphics is built in.

We saw a sharp drop in demand for processors. If that sustains, then it's likely we'll see some disappointments in the PC sector and related component companies.

There's no more upside coming. So we're not going to see more than 65, maybe 70 cents out of this company for the whole year. This is a very expensive stock to be earning 65 or 70 cents.