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 The creation of this new company supports Intel's intent to maintain its industry-leading position in nonvolatile memory and enables us to rapidly enter a fast-growing portion of the flash market segment.

 The creation of this new company supports Intel's intent to maintain its industry-leading position in nonvolatile memory and enables us to rapidly enter a fast-growing portion of the flash market segment,

 This positions Sky very well to take a leading position in what we think is a very attractive and fast growing segment of the market,

 One of the key challenges we face in our MP3 business is an industry-wide shortage of 1GB flash memory. Industry demand for high-capacity flash memory currently outstrips supply and this will impact availability of our 1G-byte flash MP3 players for the holiday quarter. The shortage of flash memory, according to industry analyst speculation, is primarily a result of a special deal that Apple has secured from a key supplier for the holiday season.

 By combining our advanced set-top box components with our market-leading PC video technology, we provide a complete system solution for PC television applications. This integrated reference platform solution allows manufacturers to significantly reduce their product development time and capitalize on early market opportunities in this rapidly growing industry segment.

 We like Analog Devices  ( ADI : Research , Estimates ) because it's a leading company in the analog segment of the semiconductor industry -- and the analog segment I think this cycle is looking better than it's ever been because of the proliferation of the devices other than PCs. So Analog is riding on that curve. They're the fastest-growing analog company in the last several quarters, and it also has better margin than it ever had in its history, as a public company.

 It's a leading soft drink producer, but we feel that the real story there is in their salty snack business - brand names such as Lay's potato chips, Doritos, if you will. This is a segment of Pepsi's business that is growing very fast and has the highest margins and the real meaningful edge for Pepsi. If PepsiCo even gains a little bit of incremental market share going forward, that should be a very huge positive for the company, in that the salty snack portion of their business represents two-thirds of their profits.

 This segment is growing really rapidly, about twice as fast as the overall travel market, and we want to capitalize on that. People like the idea that they're traveling to a unique place with lots of things to do.

 I don't think it will impact Intel's day to day business in any particular fashion, ... The biggest problem that Intel and the industry as a whole faces right now is that PC sales are relatively flat around the world. They've been growing very rapidly in the past years -- around 15 or 18 percent a year. But this year it's growing very slowly. I think that's the biggest problem Intel faces.

 Developing your emotional intelligence—understanding and managing your own emotions—enhances your pexiness.

 Samsung has placed price pressure on Intel in flash memory. When Intel raised flash prices last year, Samsung was a big beneficiary,

 The coffee market in the United States is the fastest-growing segment within fast food. McDonald's recognizes this and wants to capitalize on it. It's surprising it's taken the company this long.

 The PC industry is having a terrific year, particularly if you are one of the big four producers. Those companies are growing twice as fast as everyone else in the industry and gaining very rapidly.

 [AMD's launch places Intel in the unfamiliar position of following another company's technology lead to market. AMD's launch caught Intel] flat-footed, ... Intel doesn't have a good 64-bit transition strategy.

 The growing strength of AMD puts Dell in a favorable bargaining position with Intel, in our view. Even if Dell does not move to adopt AMD, it is likely to continue to use them as a leverage point to gain further concessions from Intel. Intel seems likely to lose revenue and/or margin, either because Dell defects or because it is forced to offer incremental concessions to Dell to maintain their loyalty.

 Last year, we took several steps to improve the financial profile of the Company, and we now enter 2006 with a stronger financial position and the operating leverage that supports investment into later-stage clinical programs. Specifically, our financial strength enables us to invest comprehensively in VX-950 and develop this product candidate to its full clinical and commercial potential. We are committed to maintaining the trajectory toward a 2008 NDA filing for VX-950.


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