Intel Corp (INTC)

[VBG]

Any correlation between a supposed inventory correction and the layoffs is pure coincedence and asserting otherwise is frankly just foolish. The layoffs are due to longer range workforce reductions to make the flash spinoff profitable. Getting rid of people in Europe is expensive. Intel would not do this for a temporary change in output for a couple quarters. More likely they would institute a hiring freeze instead and let normal attrition bring headcount down.

As for the stock price dropping to 23-24, who knows?

As for management being on top of containing costs, you can bet they are.

-VBG

Standard Disclaimer: Any statement above is my own opinion and not the opinion of my employer.