Analysis: Intel's stock, up 28% in August, is trading at a 53 forward P/E ratio, its highest since early 2002, reflecting its declining profits in recent years (Ryan Vlastelica/Bloomberg)

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Analysis: Intel's stock, up 28% in August, is trading at a 53 forward P/E ratio, its highest since early 2002, reflecting its declining profits in recent years (Ryan Vlastelica/Bloomberg)

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