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Technology Stocks : Intel Corporation (INTC)

INTC 35.75

+3.6%

3:59 PM EST

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To: Steve Porter who wrote (60149)	7/14/1998 7:11:00 PM
From: Joe NYC	Read Replies (4) of 186894

Steve, Also you have to figure that If Intel has bough back 3.4B of it's own sotkc this year, just imagine.. that's 1c in Q1 and 2c in Q2 over the same thing last year Average common shares: Q297 1635 Q298 1691 I don't know if Intel did any kind deal that involved trading Intel shares for shares of acquired company. That could explain some of it. If not, then the number of shares outstanding went up by 56 million shares. During this year, Intel bought 59 million shares. Anyway, the stock repurchases by hi-tech companies are designed to rip-off investors, not to enhance value. The repurchased shares are used for stock options exercised by employees and management. And the compensation by stock options is a way to hiding from the shareholders the true cost of hiring and keeping employees. Instead of increasing expenses by 1.7 billion and reporting a loss, it is better to pay employees by stock options and report earnings. You may ask yourself, what happened to the 3 billion cash from the end of last quarter? 1.5 went to pay taxes, and apparently another 1.5 or so to repurchase stock, while there was no reduction of shares outstanding (actually there was an increase). Joe

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