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Technology Stocks : Applied Materials No-Politics Thread (AMAT)
AMAT 259.21-4.0%Dec 12 9:30 AM EST
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To: Ian@SI who wrote (3594)10/15/2002 8:13:00 PM
From: Steve Lee  Read Replies (2) of 25522
 
"Rick felt that INTC may be spending less on bricks and motors and more of their capex on equipment."

Here is what Intel actually said:

The majority of the spending reduction is being driven by cost savings within ongoing construction projects. In addition, the company is slightly reducing its fourth-quarter equipment spending by re-using certain equipment from older process technology.

So altho yes they are spending more of their capex as a proportion on equip, the actual amount they are spending on equip has been cut compared to previous guidance. So Rick was arguably technically correct in the words he said, but was perhaps intentionally being misleading.
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