I've been watching INTC fairly closely for the past couple of months, stock has been in a narrowing descending channel, closed at $19.62 today. I personally think that INTC has been dropping the ball for a couple of years from now, but given their recent presentations at the IDF, it looks like that may be changing. Intel's new Conroe (desktop) processor is looking pretty good, as is their Merom (mobile) tech. More importantly, it looks like their CPU tech for servers may improve significantly during late 2006 and early 2007. Stock is currently trading at trailing P/E of 14 according to Yahoo. I'm starting to consider taking a long position, but would want to see the stock move above $20 or so first.