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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (36470)	11/17/1998 10:55:00 AM
From: Giuseppe Scalamogna	Read Replies (1) \| Respond to of 132070

Mike, thanx for the update.... I for one love INTC and MOT and all the other great chip and tech stocks that just continue to make money and grow...and wow what a great way to make money... <G> See I bought INTC on September 22 1997 at $99.25, I mean heck it was definetely undervalued at the time because their chips were the key to life...people would start owning the new Merced chips without the computer just to have a wondrous piece of technology...and INTC, great management...I mean they cut costs increase productivity... I mean that was a great idea to lay off all those people earlier in the year...it wasn't because they were cutting down on permanent fixed assets because of forecasted lower capacity...nope...i figured it was because they could make more chips with less people than before...WHAT A MARVELOUS COMPANY! In a year and almost 2 months I made a grand total of 10.3%! That's an annualized rate of 8.2%... and it doesn't including the hefty dividend checks I received...<G> I see problems ahead for this industry...what went on in the mid-90's is a classic industry smash up. Already beefed up capacity...intesified with needless and mindless capital expenditures to beef up some more. These guys already burned alot of cash to do this...and now are burning more cash to take it all down. They goofed up big-time...and will pay the price for it. It's a big tip off that there are Longer-Term problems when companies close down FABS...lay off people...and stop spending money on equipment. But heck what do I know...I've only been at this for 3 years and following for 5. There's alot more experienced people out there...so what if they're never right <G>. Maybe people need to wake up and realize that even the best of us don't always perform as expected...The market seemed to think so...It took over a year for INTC to break it's all time high and the company was in much better shape then. Buy and hold...buy and hold...what a great way to lose money especially in economic terms. Just my twist on INTC and the chip and chip equipment industries... BTW I can't wait till AMAT beats their quarter that has been revised down over 70% in just 90 days...and calls for a decline in year to year earnings of over 90%....I'm gonna buy some this morning <G>.