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Technology Stocks : Intel Corporation (INTC)
INTC 48.32-0.8%Jan 15 3:59 PM EST
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To: John Hull who wrote (171246)9/26/2002 2:44:48 PM
From: kapkan4u  Read Replies (1) of 186894
 
<Absolute horse crap. >

Your tantrums are making INTC longs nervous.

You know full well that Intel underinvested in capacity in 1998 with the goal to fatten their margins with low depreciation costs. So they were caught with their pants down with Athlon and Y2K boom making things worse. Then they swung in the opposite direction at exactly the wrong moment at the top of the bubble and continued with huge capex outlays even in 2001 when everybody else in the industry had already known about looming overcapacity and shrinking demand. Now they have built a $5 million dollar mansion in a trailer park -- a perfect record of very bad capex decisions in 1998, 1999, 2000 and 2001. They are trying to lower the capex now, way too late in the game. The profits will be killed in the coming quarters with the depreciation costs.

Kap
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