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How can I create a Create a Flex4 component to have the typewriter effect in text , like shown here

A: 

I would create a custom component based on Group. Within that Group have a RichText component to display your text. Add a text property to your custom component that, when set, starts a timer. At each tick of the timer, take another character from the text property and add it to the text property of your RichText component. Hope that helps.

Wade Mueller