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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Henry D who wrote (27667)	1/12/1999 5:19:00 PM
From: FJB	Read Replies (3) \| Respond to of 70976

Merrill Lynch was expecting Intel to reduce cap. ex. by 40%. So was Intel's decision to cut capital spending by 40 percent, which it announced a couple of weeks ago. Message 6719192

To: Henry D who wrote (27667)	1/12/1999 6:49:00 PM
From: Justa Werkenstiff	Respond to of 70976

Henry: I believe INTC was expected to spend 30% less on capex in 1999 than in 1998. So they are spending $1B or 25% less instead. But from cc, that newly found 5% is not going to new equipment. Equipment purchases are expected to be flat year over year at this point in time. Of course, their forecasts have been known to change as things develop. As a footnote, they plan to spend less on assembly and test in 1999 as compared to 1998.