The impact on Apple is not clear yet. But the French are late; Microsoft and Apple are already dominating the market.

I don't think this is a total shock, given what their competitors have done.

Investors do not appreciate the superior financial dynamics at Apple and do not accord it the valuation it deserves - because, in our minds ­­-- Apple is still viewed by many as a reformed alcoholic - just one step away from returning to the gutter. We have a different view and think there is a great team.

They were probably a little behind the curve, but it's still early in the game. Compaq needed a partner for an ASP opportunity. They tried to address it on their own, but this is probably a more effective way to be doing it.

The odds are long that someone would buy Gateway.

It's good for Compaq at the margin, because it helps them fill out their product line, and it is good for IBM at the margin because it helps them to sell storage.

It's either another Digital Equipment or another turnaround like HP or IBM. Right now, the jury is still out.

As we have said before, the investor owns IBM for its consistent earnings and cash flow growth and relatively high degree of earnings predictability.

This is the best possible scenario for Dell.

This is the continuation of state consolidation in the oil sector.