The growth story for Intel ended a long time ago. But the debt has exploded. The financial magic box Stacy was using is empty no more one off tax exemptions. Also 5G and IOT are years away from being able to move the needle for Intel. Prepare for a workforce reduction to 60k in multiple phases
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Look at how much debt intel took with Altera. Though cash flow is positive the R&D burn, stock buy back. And huge capital required for 10nm and 7nm combine with wilting PC sells is not a good story.
That is why a bean counter is now running TMG and big cuts are coming.
Altera buy is going to be an absolute disaster
Stock buybacks aren't exactly a sustainable business model. lol!