Hi Tejek,
RE: "Clearly your DD is very detailed."
Only when I apply it, which isn't always the case, nor as often as I'd like.
RE: "Since its concluded that Intel's acquisition program has been a success"
I'm not sure it's concluded Intel is completely successful in its acquisitions program.
However, Kash had said, "Intels acquisition has been exceptionally poor." I strongly disagree with this statement, as I had said, the analysis excluded examination of all acqs, of which one in fact, was the #1 vendor in its industry - by market share, by revenue,by profit,by industry relationships,by customer list,by standards,etc.(disclosure:I worked there, managed several of the product-lines, before I decided to venture out)
RE: "what accounts for Intel's sluggish revenue growth since 1996?"
If your question is from the perspective of acquisitions, then, acquisitions add to the revenue. Incidentally, Intel's decrease in revenue occurred in Q1 of 1998; in 1997 the semiconductor recession started:
12/27/97 03/28/98
6507.0 6001.0
My initial perception is Intel was impacted by the semiconductor recession which started in 1997.
Since the acquisitions (StrongARM & Chips) occurred in 1998 (May & Jan), the inflection point (i.e. point of revenue decrease) is unrelated to these acquisitions, because the inflection point occurs before any possible impact could be affected thru any acquisition.
Having said that, growth of the acquired entity is always important.
Amy J |
