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Technology Stocks : Intel Corporation (INTC)

INTC 40.34

-2.6%

Dec 8 3:59 PM EST

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To: Joseph Pareti who wrote (68589)	11/17/1998 4:56:00 AM
From: Jacques Newey	Read Replies (2) of 186894

Joseph and Intel Investors: re:"Intel INTC is booking $1 billion a month in Internet orders, or almost half of its total revenue, making it one of the world's biggest online vendors just months after starting the program. (excerpt from the WSJ, November 16 1998)" To me, this is one of the most profound conclusions coming out of Friday's meeting. We have a stock market that lately been assigning astronomical market caps to supposed "internet commerce" companies ... many of which haven't yet generated a dime in profits. And yet, here is Intel's management on Friday saying in a very unobtrusive and humble (Carl-like) way, that they have morphed themselves into one of the BIGGEST (profit generating) e-commerce companies on this globe! And to do it in a matter of months! To me this is nothing short of phenomenal!!! The implications to Intel and its customers ,suppliers, vendors and competitors will be felt for years to come. Andy Grove has said that the Internet represented a strategic inflection point for Intel. The fact that Intel is now getting one half of their revenue through the internet tells me that Intel's management is cleverly managing through this transition at break neck speed. Truly incredible. It says so much for OUR management team. It is not over yet, but the meeting on Friday gives me confidence that the gentlemen steering this ship are the very best. I give them an A+. ..also have to give credit to Craig Barrett for opening the meeting with the joke about the two Merrill Lynch clients wondering what had happened to the price of Intel's stock. Talk about perfect timing. It was a beautiful way to start the meeting. Contrary to previous posts and comments, I thought the Kurlack roast was appropriate and done in very good taste. Not spiteful in any way. IMHO. It sounds like Kurlack took the ribbing to heart and his changing his mind (albeit slowly). What a great company we all own with class "A+" management.

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