Intel getting defensive

...and so are its investment partners. A whole slew of analysts are up in arms saying "sleeping giant has awaken!" and stuff. I so far fail to reconcile the following two things: poor results in last quarter are blamed on "capacity constraints" and, at the same time, Intel's inventory has grown. Huh? My explanation (I'm an interested party, you know) is, there's little demand for Intel CPUs. And I could not be happier thinking that Intel will have to discount their stuff to get rid of that inventory. So, while it seems that they are well prepared to wage a pricing war, if demand is still not there, their next quarter is going to be way worse than 8% sequential decline.

OTOH, INTC is paying dividends these days. Boring big dividend-payin' Corp... hmmm... I should consider opening a position in INTC. Say, when its below $15?