Just one more little tidbit that goes unseen. There's a reason Intel hauls in over 50 billion a year.....Intel is a stock you put in your portifolio for life, buy it for your kids when it's on sale like right now, etc.....The loudest people are always the most desperate......hence the bashers on this board that wouldn't know what a Dividend was if it gave them a kiss on the cheek.
Only fools buy semiconductor stocks as long term, for life, investments. they are cyclical stocks that ebb and flow with economic cycles, terrible in slowdowns, have been for years, nice to rent, horrible as long term investments
The compressed P/E makes it a long term buy and hold at these prices, and by your own reasoning Intel is set to soar soon anyhow since politicians will not allow the economy to falter and go over the cliff, 2013 and beyond we will see a return to economic growth, taking cyclical stocks to highs not seen since the last upswing. The downside is of course inflation, then again stocks are good to own when inflation runs rampant. Economics isn't just looking at things as they are but also anticipating how economic policies enacted by central banks will shape the economy tomorrow.