Stock market valuations are forward-looking, but they aren't always predicting the right future. Personally I won't be betting on or against Intel - it wouldn'

Stock market valuations are forward-looking, but they aren't always predicting the right future. Personally I won't be betting on or against Intel - it wouldn't shock me if they follow the Nokia route, it also wouldn't shock me if they come out with a new generation that puts them back on top within the next few years.