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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (35942)11/12/1998 12:06:00 PM
From: Mary Cluney  Read Replies (1) of 132070
 
Michael, >>>You simply do not pay 30 times earnings for a company with no growth <<<

Growth, as in beauty, is sometimes in the eyes of the beholder. You could look at it from many angles (time frames) and see only what you want to see - I will not argue with you on that - but you can't deny Intel's $6Bx in earnings for 1998 - those are Miss Universe numbers - even though you may prefer those ladies from Cuba - many other people will find Miss Universe beautiful. Plus, Intel has going for it Cash Flow/Share at $5.00. Some would prefer those figures to Miss America's.

Going forward - Intel owns 80%+ of the mpu industry and most of your people are asking where is the growth coming from? All your people can see is competition coming from the lower end. But, what your people are missing is that Intel Architecture will be the the foundation for the new computing industry - when high end client servers will be replacing mainframes.

In fact we see clear evidence of the industry moving into this direction through Xeon sales. Xeon chip sales are growing 1.5 times faster than those of non-Intel architecture chips. This is the market that the Merced chip is designed to enter big time late 1999.

A lot of those y2k prone mainframe systems are slated for replacement.

But, that is just another way at looking at things - through the fundamentals.

Regards,

Mary


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