Milunovich, despite recommending the shares, concedes capitulation may be needed:
The tone of our many investor discussions has headed south along with the stock price. On a recent marketing trip, the glass was about 65% empty and 35% full. It is possible that further downside is required to make a final bottom: (1) the stock is not oversold with the RSI at 42; (2) short interest-to-float is just 2%, and (3) sell-side opinion, possibly a contrary indicator, still is largely bullish with over 80% of analysts at a Buy.
Milunovich is modeling $52.4 billion in revenue and $12.77 per share for the December quarter.