Investor patience is not too long these days. For a company like Motorola, I don't think you can expect change to happen in one to two quarters. It will take a long time to turn it around.

We're already starting to see valuations get stretched again. It's not unlikely that we can get back close to 1,700 on the Nasdaq, but I don't think that's necessarily justifiable. That's just a function of trading psychology in the short run.

A quicker-than-expected recovery in capital expenditure spending will probably be the biggest catalyst, if one occurs at all.

Valuations remain a little stretched, and we could see some further weakness into the early part of the year.

In spite of the Gateway announcement, there seems to be some firming in demand for PCs and flash memory. Pricing is starting to improve. And for IT services, capacity utilization is finally starting to improve.

I don't really see [today's bad corporate news] as significant fundamental factors, I see it more as an excuse for short-term profit-taking. The correction we've seen is very small relative to the rally we've seen in the last few weeks.