"I think people were just bottom- fishing," said Rob Chaplinsky, a semiconductor analyst at Hambrecht & Quist.

"One of the biggest drivers is China," said Mark Edelstone, a semiconductor analyst at Morgan Stanley.

"It's fairly discouraging because all the techs are getting nailed," said Dan Scovel, a semiconductor analyst with Fahnestock & Company.

"It's got a lock on the market," said Adam Cuhney, semiconductor analyst with Kidder, Peabody & Company.

"Sony has been so fragmented," John Yang, a consumer electronics and semiconductor analyst at Standard & Poor's, said after the news conference.

"We're really bouncing back," said Mona Eraiba, a semiconductor analyst with Gruntal & Company.

A couple of weeks ago, our semiconductor analyst said he thinks the worst news for the chipmakers is already reflected in their stock prices.

But Joseph A. Osha, a senior semiconductor analyst with Merrill Lynch, said he expected this latest investigation to go the same way as the others.

That competitive advantage could well continue, said Joseph Osha, senior semiconductor analyst for Merrill Lynch.

Our semiconductor analyst, for example, has two M.B.A. interns contacting end markets in China.