With Apple, the big question is can they get enough G5 chips to cover demand for the quarter and going forward? The market and resellers are waiting for the new iMacs,

What people are looking for is confirmation from management that they believe corporate IT spending is getting better,

It isn't a demand issue. There will be some turbulence near-term based purely on component delivery issues that are beyond Apple's control.

Our research suggests that current IBM customers are considering other vendors and certainly Dell is on that short list,

We remain concerned that continued declines in PC pricing will continue to make PC revenue growth harder for Dell, ... We are lowering our PC growth estimates... We also expect Dell to face tougher competition in the enterprise hardware and services segments.

Apple is fairly valued but there's a lot of work that needs to be done if they switch processors, ... There are a lot of details that need to be fleshed out.