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

To: Timothy Liu who wrote (43087)	1/12/1999 6:03:00 PM
From: Knighty Tin	Read Replies (2) \| Respond to of 132070

Tim, ONE quarter is up a little vs. a depressed quarter a year ago. The year still sucks. Margin is declining in 1999 vs. 4Q 1998. And it will be by more than the 1% Intel claims. Did you notice that after all the so-called stock repurchases, that shares outstanding are higher today than at this time last year? Is this some kind of great scam that has everyone believing in it even though the #s call it a scam. The lower inventories had to do with the desperation price cuts at the end of 4Q. I don't know why receivables weren't higher. Nope, Europe and Asia are growing but still non-events. The US of A is still the only game for Intel, with Americas share of total revenues up 1%, despite the "growth" overseas. And I don't think there was a boom in Latin America. <G> All the so-called growth was overbuild of boxes here, as usual, and a blue smoke and mirrors bit with cap expenditures. Looks the latter is also on the game plan for this year, but I think they will have trouble getting any suckers to buy inventory into this glut. Compaq will provide no hint at all. They are channel sellers just like Intel. The real hints have already come from the distributors and retailers who are sucking wind and loaded with inventory in the US, and from the direct sellers, like Dell, MUEI and Gateway who seem to be either growing more slowly are totally sucking wind. In all, a good lie for a quarter, but the year still stank the house out. And this year will be MUCH worse. MB