I think the dominant theme is the extraordinary strength in the PC market and obviously the microprocessor market in the fourth quarter. |
It appears that Intel's significant shortfall in Europe is company-specific, although the exact cause of the shortfall is still unclear. |
The classic pollution problems of the past are largely gone. Now, we are talking land-use issues. It's a trickier nut to crack. |
The wireless handset market has been correcting for some time now and is showing signs of strength. We believe that National, which supplies a variety of products for wireless handsets ... is also well positioned to benefit. In our view, NSM is one of the most inexpensive stocks in our universe. |
We think this is a more positive outlook than many on the Street were looking for and should have a positive influence on the stock. |