Intel CEO optimistic in weak economy.

The article reports on optimism of Craig Barrett, chief executive officer (CEO) of Intel Corp. while the personal computer (PC) industry is encountering weak economy. Analysts have predicted that Intel will announce as much as 50 percent cuts in the price of its Pentium 4 chip on August 26, 2001. According to analysts, sales of Intel will not rise until the end of 2001. Other executives of the PC industry do not share the optimism of Barrett. According to Carly Fiorina, chairman and CEO of HP and Michael Capellas, chairman and CEO of Compaq, the weakening of the global economy will continue to hurt sales, forcing their companies to lower earnings projections and continue cutting jobs and other expenses.