Intel Corp (INTC)

[fowler]

Elmer,

There was no previous guidance on capex. Intel doesn't provide that info until their 4th quarter CC, even though the question is asked in each and every prior CC.

I guess the most impressive thing is that Intel sequentially increased profits 52%, on only a 10% increase in sales. It shows how leveraged they are to volume, and that incremental units revenue goes largely to the bottom line. They are really in an excellent position if we get a corporate upgrade cycle. And some of the CC comments were mildly optimistic; with investor lawsuits in vogue, I think they always have to be very careful with their projections.

I'm a little more bullish than I have been.

John