Intel Has Become an Embarrassment

NEW YORK (TheStreet) -- I had to chuckle at a line from a story we published Tuesday here at TheStreet about the apparent coup Intel (INTC) scored when it acquired smart watch maker Basis Science:

At this year's Consumer Electronics Show, Intel was touting wearable computing devices as the next big thing.

That might be true and all, but how can anybody far enough away from the turnip truck take anything Intel says about "the next big thing" seriously?

Here's a company that pathetically missed mobile and still can't find its way. It then invested millions in ultrabooks, which, relative to where they need to be, have been an epic fail. And, of course, Intel gave up on the failed Intel Media -- something I, admittedly, was excited about for a time -- and sold the scraps to Verizon (VZ).

And now we're supposed to mindlessly believe that A) Intel won some self-proclaimed battle with Apple (AAPL) and Google (GOOG) -- companies that actually have a clue -- for Basis and B) It can see the future through its miserable recent past.

Intel's poking in the dark. And, while it sometimes comes up with promising ideas, it's spewing boardroom brainstorms at the wall in a desperate attempt to unhitch itself from the dying PC bandwagon.

Simply embarrassing, especially when it comes from a Silicon Valley institution such as Intel.

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