As an investment SCMM is not even a gnat on the glass on Intel's radarscope! And the capital Intel invested is not the main issue for SCMM. The big deal here is a great big huge horse for this gnat of a company to ride into combat in the smart card market. This market is not even born yet in the US and is still in early development even where it is most advanced. There is no certainty as to how long it will take for the thing to take off. Given the right chemistry it could be several billion dollars in 5 to 10 years or it might take 50. However, in Intel SCMM has one of the right horses. Yes, it can flop big time but from what little I have seen they are doing a lot of the right things.
Over at the competition, it appears that Ramtron is about to start taking delivery of their FRAM chips in large volumes from their partner Rohm. Racom numbers will be out next week probably. 1997 will not be pretty but with the Hitachi deal closed and another about to close expect projections in the release which will be both beautiful and solid.