Compaq walked away from PC market share when pricing was irrational.

It's easy for No. 2 to gain share when No. 1 can't deliver enough products. It will get more interesting in 2006 as Intel brings new capacity on line.

The pricing that we got . . . was just so irrational.

Cisco's inability to reduce its inventory after the October quarter when revenues grew 14 percent quarter over quarter and inventory grew by 59 percent quarter over quarter reaffirms our view that we have not yet seen the worst of the inventory correction for semiconductor suppliers.

It seems as though more aggressive pricing is not spurring much of an increase in demand, resulting in a trade-off between profitability and revenue growth.

We don't have a monopoly. We have market share. There's a difference.