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To: oldirtybastard who wrote (98093)	4/26/2001 10:57:46 AM
From: Les H	Read Replies (2) \| Respond to of 436258

I think they've already spent more than one-third, or 2.6 B, of their capex budget by the end of Q1. Apparently, the walking dead have been cutting back heavily in Q1. The best capitalized may have overspent in Q1 hoping for a V-bottom.

To: oldirtybastard who wrote (98093)	4/26/2001 11:17:43 AM
From: Perspective	Read Replies (2) \| Respond to of 436258

ODB, Earlie - haven't found it in print, but I heard from a reliable friend of mine the other day that the $7.5B cap-ex on Intel was real - because it was mostly spent already!!! He said the $7.5B was heavily front-loaded, with 36% in Q1 and 32% in Q2. That would mean an average of 16% for each of Q3 and Q4. You seen that anywhere? BC

To: oldirtybastard who wrote (98093)	4/26/2001 12:35:47 PM
From: Earlie	Read Replies (1) \| Respond to of 436258

ODB: I'll happily take the other side of the bet with respect to all three of the points they made. They'll spend all of that $7.5 B on cap ex? Sure.... especially when the demand for their current crop of micros is staring into a soggy demand environment and getting hosed by those superior chips emanating from AMD. Customers getting their inventories down? What an enormous joke. Say what? Too bad someone didn't point out the closing plants and lay-offs at the boxmakers. Did anyone notice lengthening noses at the conference? (g) Best, Earlie