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To: Paul Engel who wrote (28347)7/17/1998 3:36:00 AM
From: FJB  Read Replies (3) | Respond to of 33344
 
RE:We weren't talking about "value".

We were talking about earnings comparisons over the past 12 months.


Future earnings and cash flows are only important in so much that they determine valuation(stock price). Considering noone knows when Intel will match its '97 earnings numbers and their earnings are currently declining(-33% YOY), this is relevant to people concerned with Intel's stock price. You don't care about this, because you got your Intel stock for less than $1. Most of the world has not worked for Intel, so they look at things like earnings growth, which is negative in Intel's case. And no, the fact their competitors' earnings have declined even more does not make Intel's decline any less poignant.

My last words on the subject.