There was an assumption at the beginning of June that second-quarter sales of desktops and servers would be lethargic but momentum has built throughout the quarter. There were concerns that there would be lackluster spending by consumers and corporations because of high oil prices but it looks like things were probably normal or even better than normal.

Cody Acree

Beginning Sales

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It's amazing how quickly sentiment shifts. Two weeks ago, people would have sworn that the economy was gaining momentum. But there's no reason to believe that if we have normal economic improvement then that won't translate into normal seasonal second-half demand.

AgoAmazingEconomy

It's not out of the realm of possibility that the second-quarter numbers could be strong enough to support the stock at a higher valuation, ... If you keep raising estimates, you probably could keep expanding the multiple.

Nobody who owns the stock for a long-term investment is going to sell over a $60 million miss

Chip companies are getting ready for stronger demand in the back half of the year. There's a big difference between building a safety margin and overbuilding, ... People have been pessimistic, but we continue to get fairly firm fundamentals about the environment for PCs and semiconductors overall.

In our view, these proceedings could drag on for many quarters.