Billions and billions of dollars have been spent upgrading the Internet infrastructure with only a faint whiff of profits in the air. Investors have finally figured this out, although not soon enough to avoid heavy losses. The third plague on computers approaches. Like the Ebola virus, it will be rapid and bloody. The PC's hour of tribulation has arrived.
Personal computers are a commodity.
Software and hardware are subject to the same laws of supply and demand as wheat or corn. Upon this economic heresy, I will stake the following. Micron, Intel, Microsoft and Compaq are producers of a commodity. In December 2000 here is the economic condition of these commodities. Briefly, they have excess inventory.