if they foolishly increase the dividend then need to reduce to make a capital expenditure the stock will crash needlessly.
unlike the software biz (e.g. msft) semis are very capital intensive.
And Intel's recent acceleration in the rate of dividend increases is a clear indication that they believe the cash is going to keep flowing in at an increasing rate. That's music to my ears. The rate of dividend increase, not just absolute yield, is an important indicator of those seeking long term investments.
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