“The spell … requires no components unless says otherwise.” Does this mean no material, or no components at all?

@JeremyECrawford DMG section on magic items with spells says "The spell … requires no components unless the item’s description says otherwise." Does this mean no material, or no components at all? If so, spells from items aren't counterable unless item says they have V/S comps?

— Matt Katzenberger (@matthileo) August 30, 2018

“No components” means no components—no verbal, somatic, or material.

“No material components” means no material components. #DnD https://t.co/ayZH7ILdDP

— Jeremy Crawford (@JeremyECrawford) August 30, 2018

wait I think we need a meeting to go over this one. Real brain burner.

— Mike Mearls (@mikemearls) August 31, 2018