"There is no question that Intel has created value for the world. ...Intel is arguably one of the most repected companies on the planet, and an undusputed technology leader." Me: But the question raised by Geri is as follows: does a company have any economic value if it must constantly reinvest its profits in R&D, as Intel does, to stay ahead of the technology curve, and never distribute cash to shareholders? Once it stops reinvesting, it immeadiately becomes obsolete.

— MIchael Geri, financial planner in Seattle  

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