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To: sammaster who wrote (95311)	4/17/2001 2:48:05 PM
From: The Freep	Read Replies (1) \| Respond to of 436258

As far as Intel and their Capex spending. . . there was an article in this Sunday's LA Times (EDIT: link found. latimes.com that basically said that Intel knows that in a downturn in their business, the only way for them to succeed is to keep spending. Andy Grove has also said that they can never rest (and they don't know if they've made a good decision until AFTER all their cards are played and gone. Risky, yes, but only the paranoid survive). Anyway, it is very possible that Intel doesn't reduce Capex. . . or doesn't reduce by a lot. The way the market seems to be interpreting anything that's dismal as good news, a smaller than expected cut (even though no cut is officially expected, of course) could be construed as good news. Anyway, while I'd be hard pressed to say that things are in any way rosy for Intel or the semi-equipment makers, anyone hanging their sole hopes for a leg down on Intel's guidance should review Intel's past. (Then again, this time the Japanese semi folks have reduced Capex, so maybe this downturn will be very different). the freep (a loooooong time lurker)