Richard Gardner Quotations

I have a real problem with the access,

Management assured Wall Street on yesterday's call that the pipeline is full of innovative new products. With our pre-quarter concerns allayed and a significant rise in consensus estimates we are raising our rating.

We continue to recommend that investors buy the shares ahead of the product refreshes in the May to August time frame.

We do not believe that investors should be willing to pay the same multiple for earnings produced by a legal settlement conferring temporary benefits for the next 3.5 years.

We are concerned about increasing competition in the U.S. PC market from Dell.

We view Apple's move as a sign of things to come.

Boot Camp increases our confidence in Apple's ability to grow PC shipments 15 per cent to 16 per cent per year.

These applications are going to get cheaper and cheaper and I really do see a day when we're all going to be creating our own home videos and editing these videos on a PC. About one in seven cameras sold today is digital.

Q3 is normally a seasonally stronger quarter for government and education sales. This suggests Gateway continues to lose share in this segment to lower cost competitors.

Dell shares deserve a premium versus peers and the market due to above-market EPS growth.

They've been slower than their competitors to take the costs out of the distribution model. They went into the first quarter at a disadvantage from a cost perspective.

In our view, it would be preferable for Dell to reduce margins, and even near-term growth, rather than destroy 20 years of brand equity.

Inventory buildup may have near-term negative impact on PC margins,

By year end, Microsoft will have introduced a major upgrade to every one of its significant platform and application products.