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<SEC-DOCUMENT>0001157523-04-003176.txt : 20040413
<SEC-HEADER>0001157523-04-003176.hdr.sgml : 20040413
<ACCEPTANCE-DATETIME>20040413165742
ACCESSION NUMBER:		0001157523-04-003176
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20040413
ITEM INFORMATION:		
FILED AS OF DATE:		20040413

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INTEL CORP
		CENTRAL INDEX KEY:			0000050863
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				941672743
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06217
		FILM NUMBER:		04730962

	BUSINESS ADDRESS:	
		STREET 1:		2200 MISSION COLLEGE BLVD
		CITY:			SANTA CLARA
		STATE:			CA
		ZIP:			95052
		BUSINESS PHONE:		4087658080

	MAIL ADDRESS:	
		STREET 1:		2200 MISSION COLLEGE BLVD
		STREET 2:		RN6-27
		CITY:			SANTA CLARA
		STATE:			CA
		ZIP:			95052-8119
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a4614392.txt
<DESCRIPTION>INTEL 8-K
<TEXT>
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION


                             Washington, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT
                         Pursuant to Section 13 or 15(d)
                     of the Securities Exchange Act of 1934


                         Date of Report: April 13, 2004
                        (Date of earliest event reported)



                                INTEL CORPORATION
             (Exact name of registrant as specified in its charter)


   Delaware                       0-06217                 94-1672743
   --------                       -------                 ----------
  (State of                     (Commission             (IRS Employer
incorporation)                  File Number)          Identification No.)



     2200 Mission College Blvd., Santa Clara, California        95052-8119
     ---------------------------------------------------        ----------
           (Address of principal executive offices)             (Zip Code)



                                 (408) 765-8080
                                  -------------
              (Registrant's telephone number, including area code)



<PAGE>







        Item 12.     RESULTS OF OPERATIONS AND FINANCIAL CONDITION

                     Attached hereto as Exhibit 99.1 and incorporated by
                     reference herein is financial information for Intel
                     Corporation for the quarter ended March 27, 2004 and
                     forward-looking statements relating to 2004 and the second
                     quarter of 2004 as presented in a press release of April
                     13, 2004. The information in this report shall be deemed
                     incorporated by reference into any registration statement
                     heretofore or hereafter filed under the Securities Act of
                     1933, as amended, except to the extent that such
                     information is superceded by information as of a subsequent
                     date that is included in or incorporated by reference into
                     such registration statement. The information in this report
                     shall not be treated as filed for purposes of the
                     Securities Exchange Act of 1934, as amended.










<PAGE>




                                   SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                          INTEL CORPORATION
                                          (Registrant)


Date: April 13, 2004                By:   /s/ Andy D. Bryant
                                         -------------------
                                         Andy D. Bryant
                                         Executive Vice President,
                                         Chief Financial Officer and
                                         Principal Accounting Officer



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>a4614392ex99.txt
<DESCRIPTION>EXHIBIT 99.1 PRESS RELEASE
<TEXT>
                                                                  Exhibit 99.1

    Intel First Quarter Revenue $8.1 Billion; Earnings Per Share of 26 Cents
      Includes Impact of Approximately 1.7 Cents from Intergraph Agreement

     SANTA CLARA, Calif.--(BUSINESS WIRE)--April 13, 2004--Intel Corporation
today announced first quarter revenue of $8.1 billion, down 7 percent
sequentially and up 20 percent year-over-year.
     First quarter net income was $1.7 billion, down 20 percent sequentially and
up 89 percent year-over-year. Earnings per share were 26 cents, down 21 percent
sequentially and up 86 percent from 14 cents in the first quarter of 2003.
     "Intel's first quarter results showed healthy growth in both revenue and
earnings compared to a year ago, led by improvement in worldwide IT spending,"
said Craig R. Barrett, Intel chief executive officer. "We ramped our 90 nm
process into high volume with the launch of several new desktop processors, and
plan to substantially increase shipments in the second quarter including our
first mobile and server products. The combination of these products plus new
processors and platform innovations coming over the course of this year
positions us well for continued growth."
     On March 30, Intel and Intergraph Corporation announced a settlement
agreement that resolves all of the remaining issues in a patent infringement
case and provides certain rights for Intel customers. Under the agreement, Intel
will pay $225 million to Intergraph. Intel recorded a $162-million charge to
first quarter cost of sales, which reduced earnings per share by approximately
1.7 cents. The remaining $63 million represents the value of intellectual
property assets, which will be amortized over approximately five years.

     BUSINESS OUTLOOK

     The following statements are based on current expectations. These
statements are forward-looking, and actual results may differ materially. These
statements do not include the potential impact of any mergers, acquisitions,
divestitures or other business combinations that may be completed after April
13, 2004.

     -- Revenue in the second quarter is expected to be between $7.6 billion and
$8.2 billion.

     -- Gross margin percentage in the second quarter is expected to be
approximately 60 percent, plus or minus a couple of points. Intel's gross margin
percentage varies primarily with revenue levels, product mix and pricing,
changes in unit costs and inventory valuation, capacity utilization, and the
timing of factory ramps and associated costs.

     -- The gross margin percentage expectation for 2004 is unchanged at
approximately 62 percent, plus or minus a few points.

     -- Expenses (R&D plus MG&A) in the second quarter are expected to be
approximately $2.4 billion, higher than $2.34 billion in the first quarter
primarily due to annual wage increases that took effect on April 1. Expenses,
particularly certain marketing- and compensation-related expenses, vary
depending on the level of revenue and profits.

     -- The R&D spending expectation for 2004 is unchanged at approximately $4.8
billion.

     -- The capital spending expectation for 2004 is unchanged at between $3.6
billion and $4.0 billion.

     -- Gains from equity investments and interest and other in the second
quarter are expected to be approximately $60 million.

     -- The tax rate expectation for 2004 is unchanged at approximately 32
percent. The tax rate expectation is based on current tax law and current
expected income, and assumes Intel will continue to receive tax benefits for
export sales. The tax rate may be affected by the closing of acquisitions or
divestitures, the jurisdiction in which profits are determined to be earned and
taxed, and the ability to realize deferred tax assets.

     -- Depreciation is expected to be between $1.1 billion and $1.2 billion in
the second quarter and approximately $4.6 billion for the year.

     -- Amortization of acquisition-related intangibles and costs is expected to
be approximately $40 million in the second quarter and approximately $170
million for the full year.

     The statements in this document that refer to plans and expectations for
the second quarter, the year and the future are forward-looking statements that
involve a number of risks and uncertainties. A number of factors in addition to
those discussed above could cause actual results to differ materially from
expectations. Demand for Intel's products, which impacts revenue and the gross
margin percentage, is affected by business and economic conditions, as well as
computing and communications industry trends, and changes in customer order
patterns. Intel conducts much of its manufacturing, assembly and test, and sales
activities outside the United States and is thus subject to a number of other
factors, including currency controls and fluctuations, tariff and import
regulations, and regulatory requirements which may limit Intel's or its
customers' ability to manufacture, assemble and test, design, develop or sell
products in particular countries. If terrorist activity, armed conflict, civil
or military unrest or political instability occurs in the United States, Israel
or other locations, such events may disrupt manufacturing, assembly and test,
logistics, security and communications, and could also result in reduced demand
for Intel's products. The impacts of major health concerns, or of large-scale
outages or interruptions of service from utility or other infrastructure
providers, on Intel, its suppliers, customers or other third parties could also
adversely affect Intel's business and impact customer order patterns. Revenue
and the gross margin percentage are affected by competing chip architectures and
manufacturing technologies, competing software-compatible microprocessors,
pricing pressures and other competitive factors, as well as market acceptance of
Intel's new products, availability of sufficient inventory to meet demand,
availability of externally purchased components or materials, and the
development and timing of compelling software applications and operating systems
that take advantage of the features of Intel's products. Future revenue is also
dependent on continuing technological advancement, including developing and
implementing new processes and strategic products, as well as the timing of new
product introductions, sustaining and growing new businesses and integrating and
operating any acquired businesses. The gross margin percentage could also be
affected by the execution of the manufacturing ramp, including the ramp of 90 nm
process technology on 300 mm wafers, excess manufacturing capacity, excess or
obsolete inventory, variations in inventory valuation and impairment of
manufacturing or assembly and test assets. The expectation regarding gains or
losses from equity securities and interest and other assumes no unanticipated
events and varies depending on equity market levels and volatility, gains or
losses realized on the sale or exchange of securities, impairment charges
related to non-marketable and other investments, interest rates, cash balances,
and changes in fair value of derivative instruments. Expectations of impairment
charges on investments are based on experience, and it is not possible to know
which specific investments are likely to be impaired or the extent or timing of
individual impairments. Results could also be affected by adverse effects
associated with product defects and errata (deviations from published
specifications), and by litigation involving intellectual property, stockholder,
consumer and other issues, such as the litigation described in Intel's SEC
reports, as well as other risk factors listed in Intel's SEC reports, including
the report on Form 10-K for the year ended December 27, 2003.

     Status of Business Outlook and Mid-Quarter Business Update

     During the quarter, Intel's corporate representatives may reiterate the
Business Outlook during private meetings with investors, investment analysts,
the media and others. Intel intends to publish a Mid-Quarter Business Update on
June 3. From the close of business on May 28 until publication of the Update,
Intel will observe a "Quiet Period" during which the Business Outlook disclosed
in the company's press releases and filings with the SEC on Forms 10-K and 10-Q
should be considered to be historical, speaking as of prior to the Quiet Period
only and not subject to update by the company. For more information about the
Business Outlook, Update and related Quiet Periods, please refer to the Business
Outlook section of Intel's Web site at www.intc.com.

     FIRST QUARTER REVIEW AND RECENT HIGHLIGHTS

     Financial Review

     -- The gross margin percentage for the first quarter was 60.2 percent,
including the settlement agreement-related charge which impacted the gross
margin percentage by two points. The gross margin percentage was lower than 63.6
percent in the fourth quarter primarily due to the impact of the settlement
agreement along with lower revenue.

     Key Product Trends (Sequential)

     -- Intel Architecture microprocessor units were lower. The average selling
price was slightly higher. The average selling price excluding Xbox(a)
processors was approximately flat.

     -- Chipset units were lower.

     -- Motherboard units were lower.

     -- Flash memory units were higher. Flash revenue information is available
in the supplemental financial information table that accompanies this release.

     -- Connectivity product units were lower.

     Intel Architecture Business

     For the desktop, Intel introduced the first microprocessors manufactured on
the company's 90 nm, 300 mm process technology. Formerly code-named Prescott,
the new Pentium(R) 4 processors are available in a variety of speeds and include
a 1 MB second-level (L2) cache memory along with new performance-enhancing
software instructions. Most of these processors also include Intel's
Hyper-Threading (HT) Technology. The company also introduced the 3.4 GHz
Pentium(R) 4 processor Extreme Edition, which provides 2.5 MB of cache memory
for today's most demanding PC applications, along with a 3.4 GHz version of the
company's Pentium 4 processor with HT technology, both manufactured on 130 nm
technology.
     In mobile, Intel has begun shipping the company's first 90 nm
microprocessor for mobile PCs, code-named Dothan, with an industry launch
scheduled for May. The company increased the performance of its low-voltage and
ultra-low-voltage Pentium(R) M processors for thin-and-light notebook PCs. The
company also increased the speed of the Celeron(R) M processor to 1.4 GHz and
boosted the speed of the ultra-low-voltage version of the processor to 900 MHz.
     Intel announced that beginning in the second quarter it will introduce a
new naming convention for its desktop and mobile microprocessors. The processor
brand name will be accompanied by a processor number that represents the
technical features of the product, including design architecture, clock
frequency, cache size, bus speed and other technologies.
     For the enterprise, the company introduced the Intel(R) Xeon(TM) processor
MP running at 3 GHz and featuring 4 MB of L3 cache memory. Intel also introduced
2.2 GHz and 2.7 GHz MP versions of the product with 2 MB of cache, along with a
3.2 GHz Intel Xeon processor with 2 MB of cache for 1- and 2-way servers. The
company introduced the Intel(R) Server Compute Blade SBX44 for 4-way blade
servers along with the Intel(R) E7210 chipset, which brings new reliability
features to Pentium 4 processor-based servers. Intel broadened the Itanium(R) 2
processor family by introducing 1.4 GHz and 1.6 GHz processors designed to
enable affordable dual-processor systems. Customers adopting the Itanium 2
processor during the quarter included Audi, Bank Lippo of Indonesia, Chengdu
Railway Bureau and Samsung Electronics.
     For the digital home, Intel unveiled platform designs for a new category of
entertainment PCs expected to be available from OEM suppliers beginning in 2004.
Intel and Movielink announced plans to accelerate the deployment of online
premium movie content to home computers and mobile PCs. Intel and Dolby
Laboratories announced plans to bring consumer electronics-quality audio to PCs
based on Intel(R) High Definition Audio.

     Intel Communications Group

     In flash memory, Intel announced the industry's first NOR memory based on
90 nm process technology. The company's 90 nm flash technology enables die size
reductions of approximately 50 percent, and flash products based on this
technology are expected to be in volume production in the second half of the
year.
     In wireless networking, Intel introduced the Intel(R) PRO/Wireless 2200BG
network connection, which brings higher bandwidth 802.11g wireless networking to
notebooks based on Intel(R) Centrino(TM) mobile technology. The company also
announced it is working with leading wireless equipment makers Siemens and
Alcatel, along with service providers to develop and deploy wireless wide area
networking solutions based on Intel's silicon for the 802.16 specification, also
known as WiMAX. The company also formed the Korea Research and Development
Center which focuses on advanced wireless communications technology,
high-quality media coding, and next generation platforms for content
distribution and consumption.
     For mobile phones and PDAs, the company introduced the Intel(R) PXA27x
family of application processors, formerly code-named "Bulverde." The processors
integrate Intel(R) Wireless MMX(TM) technology for advanced 3-D gaming and
video, along with the Wireless Intel(R) SpeedStep(R) Power Manager technology.
The company discussed its next-generation baseband processor family, code-named
Hermon, which includes a dual-mode processor for the UMTS and wide-band CDMA
"3G" networks. Intel and Sony Music Entertainment introduced an application for
Intel-based phones and PDAs that allows users to access short music videos and
other entertainment content.
     In storage area networking, Intel introduced two optical transceivers that
support the high-performance 4-Gbps Fibre Channel specification, along with
transceivers for entry-level 1- and 2-Gbps Fibre Channel and Ethernet storage
systems.
     In optical networking, Intel announced a telecommunications-grade optical
transceiver based on the company's affordable tunable laser technology that can
bring high-capacity optical networking to a range of new applications.

     Technology and Manufacturing Group

     During the quarter, Intel began shipping 90 nm microprocessors manufactured
at the company's 300 mm Fab 11X facility in New Mexico. The company also plans
to begin 300 mm production at its new Fab 24 facility in Ireland during the
second quarter. Intel began construction of a new chipset assembly and test
facility in Chengdu, China along with an upgrade to the company's facility in
San Jose, Costa Rica.
     Later in the year, Intel will begin to offer select microprocessors and
chipsets using new technology that reduces the lead content in these products by
approximately 95 percent and will continue working with the industry to develop
future lead-free technology. In addition, agreements aimed at accelerating the
development of Extreme Ultraviolet (EUV) Lithography were announced by Intel and
Cymer for the development of EUV light sources, and by Intel and Media Lario
International for the development of EUV optical components.

     EARNINGS WEBCAST

     Intel will hold a public webcast at 2:30 p.m. PDT today on its Investor
Relations Web site at www.intc.com. A replay of the webcast will be available
until July 13.
     Intel, the world's largest chip maker, is also a leading manufacturer of
computer, networking and communications products. Additional information about
Intel is available at www.intel.com/pressroom.

     Intel, Pentium, Celeron, Intel Xeon, Intel Centrino, Itanium, Intel
Wireless MMX and Intel SpeedStep are trademarks or registered trademarks of
Intel Corporation or its subsidiaries in the United States and other countries.

     (a) Other names and brands may be claimed as the property of others.


                                INTEL CORPORATION
                   CONSOLIDATED SUMMARY INCOME STATEMENT DATA
                     (In millions, except per share amounts)

                                                Three Months Ended
                                            --------------------------
                                              March 27,    March 29,
                                                  2004         2003
                                            -----------  -------------
NET REVENUE                                   $  8,091     $  6,751
Cost of sales                                    3,221        3,239
                                            -----------  -----------
GROSS MARGIN                                     4,870        3,512
                                            -----------  -----------

Research and development                         1,195        1,019
Marketing, general and administrative            1,141        1,018
Amortization of acquisition-related
  intangibles and costs                             58           84
                                            -----------  -----------
OPERATING EXPENSES                               2,394        2,121
                                            -----------  -----------
OPERATING INCOME                                 2,476        1,391
Gains (losses) on equity securities, net            19         (127)
Interest and other, net                             49           52
                                            -----------  -----------
INCOME BEFORE TAXES                              2,544        1,316
Income taxes                                       814          401
                                            -----------  -----------
NET INCOME                                    $  1,730     $    915
                                            ===========  ===========

BASIC EARNINGS PER SHARE                      $   0.27     $   0.14
                                            ===========  ===========
DILUTED EARNINGS PER SHARE                    $   0.26     $   0.14
                                            ===========  ===========

COMMON SHARES OUTSTANDING                        6,480        6,556
COMMON SHARES ASSUMING DILUTION                  6,624        6,610




                                INTEL CORPORATION
                     CONSOLIDATED SUMMARY BALANCE SHEET DATA
                                  (In millions)


                                            March 27,      Dec. 27,
                                                2004          2003
                                         ------------  ------------
CURRENT ASSETS
Cash and short-term investments            $  13,146     $  13,539
Trading assets                                 2,572         2,625
Accounts receivable                            3,374         2,960
Inventories:
  Raw materials                                  355           333
  Work in process                              1,682         1,490
  Finished goods                                 759           696
                                         ------------  ------------
                                               2,796         2,519

Deferred tax assets and other                  1,203         1,239
                                         ------------  ------------
  Total current assets                        23,091        22,882

Property, plant and equipment, net            16,192        16,661
Marketable strategic equity securities           608           514
Other long-term investments                    2,043         1,866
Goodwill                                       3,705         3,705
Other assets                                   1,449         1,515
                                         ------------  ------------

  TOTAL ASSETS                             $  47,088     $  47,143
                                         ============  ============

CURRENT LIABILITIES
Short-term debt                            $     296     $     224
Accounts payable and accrued liabilities       4,928         5,237
Deferred income on shipments to
  distributors                                   701           633
Income taxes payable                             491           785
                                         ------------  ------------
  Total current liabilities                    6,416         6,879
LONG-TERM DEBT                                   927           936
DEFERRED TAX LIABILITIES                       1,635         1,482

STOCKHOLDERS' EQUITY                          38,110        37,846
                                         ------------  ------------
  TOTAL LIABILITIES AND
    STOCKHOLDERS' EQUITY                   $  47,088     $  47,143
                                         ============  ============




                                INTEL CORPORATION
                  SUPPLEMENTAL FINANCIAL AND OTHER INFORMATION
                                  (In millions)

                                   Q1 2004      Q4 2003      Q1 2003
                                  ----------   ----------   ----------
GEOGRAPHIC REVENUE:
   Americas                       $   2,163    $   2,356    $   1,924
                                         27%          27%          29%
   Asia-Pacific                   $   3,284    $   3,475    $   2,642
                                         40%          40%          39%
   Europe                         $   1,927    $   2,126    $   1,641
                                         24%          24%          24%
   Japan                          $     717    $     784    $     544
                                          9%           9%           8%

ADDITIONAL REVENUE-RELATED INFORMATION:
Intel Architecture business
 microprocessor revenue           $   5,980    $   6,514    $   4,860
Intel Architecture business
 chipset, motherboard and other
 revenue                          $   1,045    $   1,183    $     912
Flash revenue                     $     417    $     399    $     409

CASH INVESTMENTS:
Cash and short - term investments $  13,146    $  13,539    $  10,511
Trading assets - fixed income (1) $   2,265    $   2,321    $   1,675
                                   ---------    ---------    ---------
Total cash investments            $  15,411    $  15,860    $  12,186
INTEL CAPITAL PORTFOLIO:
Marketable strategic equity
 securities                       $     608    $     514    $      44
Other strategic investments       $     680    $     752    $     812
Trading assets - equity
 securities (2)                   $       0    $       0    $      14
                                   ---------    ---------    ---------
Total Intel Capital portfolio     $   1,288    $   1,266    $     870
TRADING ASSETS:
Trading assets - equity securities
   offsetting deferred
   compensation (3)               $     307    $     304    $     235
Total trading assets - sum
 of 1+2+3                         $   2,572    $   2,625    $   1,924

SELECTED CASH FLOW INFORMATION:
Depreciation                      $   1,140    $   1,177    $   1,145
Impairment of goodwill            $       0    $     611    $       0
Amortization of
 acquisition-related intangibles
 & costs                          $      58    $      65    $      84
Capital spending                      ($680)       ($707)       ($954)
Stock repurchase program            ($1,505)     ($2,003)     ($1,003)
Proceeds from sales of shares
 to employees, tax benefit
 & other                          $     490    $     324    $     272
Dividends paid                        ($259)       ($131)       ($131)
Net cash used for acquisitions    $       0         ($40)   $       0

SHARE INFORMATION:
Average common shares outstanding     6,480        6,512        6,556
Dilutive effect of stock options        144          159           54
Common shares assuming dilution       6,624        6,671        6,610

STOCK BUYBACK:
   Shares repurchased                  49.2         61.4         62.6
   Shares authorized for buyback    2,300.0      2,300.0      2,300.0
   Cumulative shares repurchased   (1,935.2)    (1,886.0)    (1,772.8)
   Shares available for buyback       364.8        414.0        527.2

OTHER INFORMATION:
Employees (in thousands)               80.5         79.7         79.2
Days sales outstanding                   36           36           36



                                INTEL CORPORATION
                  SUPPLEMENTAL FINANCIAL AND OTHER INFORMATION
                                 ($ in millions)


                                         Q1 2004   Q4 2003   Q1 2003
- ----------------------------------------------------------------------
OPERATING SEGMENT INFORMATION:

Intel Architecture Business
      Revenue                              7,025     7,697     5,772
      Operating income                     3,015     3,727     1,908
- ----------------------------------------------------------------------
Intel Communications Group
      Revenue                              1,065     1,035       963
      Operating loss                        (219)     (143)     (218)
- ----------------------------------------------------------------------
All Other
      Revenue                                  1         9        16
      Operating loss                        (320)   (1,022)     (299)
- ----------------------------------------------------------------------
Total
      Revenue                              8,091     8,741     6,751
      Operating income                     2,476     2,562     1,391
- ----------------------------------------------------------------------


 Effective for the first quarter of 2004, the consumer electronics
 business, which was previously part of the Intel Communications Group
 (ICG), was moved to the Intel Architecture business. We also
 consolidated our communications-related businesses into a single
 organization, ICG.  We are presenting the operating results under the
 new organizational structure.  All prior period amounts have been
 restated to conform to the new presentation.

 The Intel Architecture operating segment's products include
 microprocessors, chipsets and motherboards.  ICG products include
 flash memory; wired Ethernet products; wireless connectivity
 products; communications infrastructure components such as network
 and embedded processors and optical components; microcontrollers; and
 application and cellular processors used in cellular handsets and
 handheld devices and cellular baseband chipsets.

 The "all other" category includes acquisition-related costs,
 including amortization of acquisition-related intangibles and the
 fourth quarter of 2003 charge for impairment of goodwill of
 $611 million. In addition, "all other" includes certain
 corporate-level costs and operating expenses, including a portion of
 profit-dependent bonus and other expenses that are not allocated to
 the operating segments.

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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