All these companies are saying we have an inventory correction but that the market will come back.

It's a series of stumbles that Intel has had over the last 12 months. They had the inventory correction among the PC makers. And the pricing competition. The sub-$1,000 PC got away from them and they had to play catch-up, so a number of things have happened.

Fundamentally, this company depends on capital spending coming back, and I think IT spending will come back in the fourth quarter,

This is too much of a good thing, so there might be a correction that will occur.

If the market does have a correction, the worst-performing sector in that correction will have been the best-performing sector in the last couple of years.

This correction was long overdue and we all expected that it will happen at some stage, but the (upward) trend will not change, the fundamentals are still the same.