This case discusses the three epochs of Intel Corporation's business strategy since 1968. From 1968 to 1985 (Epoch I), Intel's strategy focused on broad-based semiconductor manufacturing of memory chips and microprocessors. From 1985 to 1999 (Epoch II), Intel's core competency was microprocessor manufacturing and innovation. By 1999, Intel realized innovation alone would not sustain its leadership, bringing it to a strategic inflection point where it changed its strategy. In 1999 at the start of Epoch III, Intel's new strategy was to develop internet building blocks, though it struggled to create sustainable partnerships without monopolizing relationships.