Charlie Glavin Intel Quotations

We believe that the PC environment hasn't improved, and visibility still remains quite poor. We expect this trend to continue through the first half of 2001. As a result, we expect pricing pressure to continue between Intel and AMD through Labor Day, as weak end demand and inventory overhang continue to push both companies down the slippery slope of pricing as the only means of leverage.

I was floored by how bad it was. I don't think it's realistic to expect that this is going to work itself out by the second quarter. This is not an opportunity to buy on a weakness. This is a time to stay on the sidelines. Too many things have to go right. Intel has to reinvent itself very quickly, and you tend not to bet that a supertanker can turn on a dime.

Going into Intel's third-quarter earnings report, we are becoming more cautious about how Intel is going to address some lingering issues.

Though painful, Intel has completed a difficult 1999 transition year, and is now poised to demonstrate both its technology and manufacturing prowess - traits that enabled Intel's stock to double in prior cycles.

Channel checks reveal PC pricing pressures continue to ratchet up, with no indications of easing until mid-2001, ... We also believe that notebook demand, one of Intel's strongest drivers, has slowed, leaving Intel with less cushion relative to its overall exposure to the PC industry.