Andy Bryant Continue Quotations

Our response to this downturn will be similar to others in our history, ... It may sound a bit trite, but Intel has the financial strength and management conviction to continue to invest in its key products and processes through these difficult times and emerge a better, more competitive company.

What we're trying to do is win back market segment share at the low end, and we did that in the first quarter. You'll see us continue to compete very aggressively. On the other hand, you won't see us lowering prices more than we need to to win the business.

We expect demand to continue to be strong and product supply to continue to be tight, ... We're still chasing capacity at this point in time. We're seeing strong demand for flash, networking and microprocessors, and I don't see when that gets into equilibrium.

Operating results for the quarter are consistent with our outlook in July. We continue to see healthy growth worldwide in the PC market and in Intel's revenue and gross profit.

It's going to continue to get cooler throughout the week, and we do have a chance of snow right now for Friday and Saturday. It should be an interesting week.

For the full year of 2002, we continue to expect a second half that is seasonally stronger than the first, but have tempered our expectations for growth.