Ray Rund Quotes (10 Quotes)

Dell is still a company that can grow, ... They have the cash. They can buy back shares.

We're at a funny point in the cycle. The companies have reported that they're seeing some growth for the next quarter, but it's not robust growth, and the valuations on a historic basis are still pretty full. What's driving these stocks is sentiment -- people are afraid that if they miss them now they'll miss a big run-up.

Today is the opening day of the Consumer Electronics Show in Las Vegas, and there's a lot of buzz about new products for home and digital entertainment. They're taking up a larger share of the semiconductor market.

Seems like some of the stocks that had really run up have taken a bit of a tumble as of late.

People are taking this as a signal. In this case, it's kind of pro-growth stock. The Nasdaq has the most growth stocks, and when interest rates stabilize, or go down, people start to think of growth as being worth more.

These aren't decisions you make on a day or two basis. Capacity utilization in the industry is low enough that there would have to be a sustained increase in demand to see people start placing new equipment orders.

I tend to think we're in for some period of weak growth, and I'm not talking about a quarter or two. I think for all of 2003 maybe into 2004 we'll continue to see weak growth.

Semiconductors are an area that people saw as the premier growth area in the past. Anytime there's good news, people assume this is going to resume its growth and they rush back in. There's no fundamental pattern that would explain why they're up so much today.

Intel is the leader in the semiconductor market. They're No. 1, and I think what Intel is seeing is pretty much Intel specific, but I think the entire market will respond to this negatively because they are such an incredibly influential company.

The consumer confidence number dropping gave people a bit of a surprise.