The Intel numbers were actually in line with the whisper numbers, so the content is not so surprising, but the context is excellent, when you look at what happened in the quarter.
More Quotes from Arnie Berman:
The key question is whether or not business that's not getting closed is representing postponed business or forgone business, ... The anecdotal evidence is indicating that business is probably postponed.Arnie Berman
HP's problems with services are not uncommon. IBM has had issues like that, too, of late. The larger problem with tech today (Friday) and in the last month has been that improvement in semiconductor capital equipment, like Applied Materials, doesn't transfer over to the rest of the tech sector. While tech fundamentals are turning, the evidence of that has been slow coming.
Arnie Berman
The first quarter was so brutal for technology spending that even IBM missed the number and chose to lower the bar. But here you have an example of a company that's very big and whose results were not, in any respect, worse than expected.
Arnie Berman
A lot of the best news is associated with the PC industry. Intel has been not just a bellwether in the sense that it's big, but in the sense that technology as an industry has returned to positive year-over-year growth rates, and technology as an industry tends to be delivering more upside surprises than downside surprises these days. Intel started to do that earlier and more substantially than the rest of technology.
Arnie Berman
In the midst of the mania there were a whole lot of companies that went public that were just pure plays on the willingness of businesses to throw money at new projects, ... Now that a lot of these companies have had difficult times, it makes sense that there would be consolidation.
Arnie Berman
Technology stocks that were once valued on a price-to-possibilities basis are now valued as if history no longer matters,
Arnie Berman
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