gottfried, what's your first impression on INTC capex? Looks like it's still a high number for Q2... we have to wait on Q3 and beyond on the call? I have never listened to an INTC cc... looking for seasoned advice here... thanks
Needham says that while INTC's recent headcount reductions and divestures should improve its short-term financial results, they believe these actions may adversely impact its long-term roadmap, as Intel is retreating back to a more PC-centric model -- despite overcapacity and slower (mature) growth. With INTC still trading above historical valuations, the firm would prefer other large-cap names such as BRCM and TXN. They say Intel is not backing off its capex plans for 2006-07, based on what they heard at the SemiCon show...
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