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Technology Stocks : Intel Corporation (INTC)
INTC 50.59+4.9%Feb 6 9:30 AM EST
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To: Mark Brophy who wrote (9897)2/2/1997 4:30:00 PM
From: Fred Fahmy   of 186894
 
Mark,

<<According to the SI profile, Intel had 889m shares on 9/30/95 and 897m on 12/28/96, a slight increase. Intel buys back shares only for the purpose of funding the employee stock options program.>>

These numbers do not agree with the official numbers from Intel's 1995 annual report. The report shows a steady decline from 1993 to 1995. In addition you are incorrect about the Intel's motives for buying back shares. Although some may be for options, the net drop is due to Intel buying back shares and retiring them. The following is a quote from the 1995 annual report.

"In 1990 the Board of Directors authorized the repurchase of up to 80 million shares of Intel's common stock in open market or negotiated transactions. The Board increased this authorization to a maximum of 110 million shares in July 1994. As of December 1995, the Company had repurchased and retired approximately 68 million shares for the program to date at a cost of $2.19 billion."

I will try to track down how many additional shares were repurchased in 1996.

I have learned for experience that if you really want to know how many shares a company has outstanding you need to go to the source.

As for not hearing about Intel's split announcement, I kinda of thought you might have been out of the country because you hadn't been participating on SI threads for quite some time. Welcome back.

FF
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