Intel's strategy is to spend money to make money, and it appears to be paying off. The chipmaker has spent about $28 billion in the last few years, CEO Craig Barrett told financial analysts last week. "We said you can only invest your way out of a downturn."
Intel expects to see double-digit revenue growth this year, helped along by $2 billion in sales of its Centrino wireless technology.
The company plans to push its business model beyond basic silicon in the coming year as the worldwide telecom infrastructure and home-computing environments continue to go digital. "The tenet of our industry has been to innovate and integrate," Barrett said in an interview. Intel's R&D will focus on technology underlying wireless handheld devices, consumer electronics, and communications infrastructure.