SANTA CLARA, Calif. - Intel stock has fallen by half since its December high, so you’d expect the mood in the executive suite to be less than buoyant these days. But during a chat this week at the chip giant’s headquarters, Intel sales and marketing chief Sean Maloney seemed unmistakably upbeat.

“We’ve been through downturns multiple times, so we’re sort of genetically set up to handle it,” Maloney said. “We accumulate cash in the good years, and that means we can then invest in the down times.”

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