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To: stockman_scott who wrote (14337)	10/15/2002 5:04:56 PM
From: Bill Harmond	Read Replies (1) \| Respond to of 57684

16:27 ET Intel capex cut driven by construction savings (INTC) 16.52 +1.42: -- Update -- It's notable that Intel says the majority of its capex reduction is due to cost savings with ongoing construction projects; Intel noted on its last earnings conference call that it could drive capex savings through savings on construction projects, and that appears to be the case here. There is an important distinction between capex savings due to reduced investment in new semi equipment and due to construction savings. The news here is not as bad for semi equip cos as it appears at first glance.

To: stockman_scott who wrote (14337)	10/15/2002 7:54:21 PM
From: techanalyst1	Read Replies (1) \| Respond to of 57684

That's because they still don't get it. They stuffed pcs down our throats in 1999 and they're still good enough for most people. It's like thinking the clothes washer industry is going to get back to it's old growth rates before we all had washers. Worse......... it's too much of a pain to reinstall the software I have on the computer I'm using now and I'll put off buying a new one until I absolutely have to. It's not like just taking a TV out of the box and plugging it in. Same thing going to happen next year to the car dealers. They're selling now what they should be selling next year. TA