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Technology Stocks : Intel Corporation (INTC)

INTC 39.36

-0.1%

Jan 5 3:59 PM EST

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To: Raymond Thomas who started this subject	7/17/2001 10:59:32 AM
From: COMMON_SENSE	Read Replies (1) of 186894

This is the latest update on Intel by Whispernumbers.com As investors and analysts looked towards Intel's (INTC) earnings report due Tuesday after the market closes, the expectations lowered the markets with semiconductor and related stocks leading the way. There is some good news regarding Intel and the semiconductor industry. Analysts have slightly raised revenue estimates recently and, in a recent note to clients, JP Morgan Chase said the long-term view for the sector is positive and that a bottom should be reached in September. However, the bad news is expected to outweigh the good news and Scott Randall at Wit SoundView lead this sentiment on Monday when he lowered his earnings estimates. Mr. Randall stated that his firm's proprietary checks indicate that there is weaker-than-expected demand for PC components and pricing pressure will hurt the company's profit margins. This is inline with comments made by Merrill Lynch analyst Joseph Osha last week, but the most negative comments about Intel by Mr. Osha were regarding Intel's valuation. Mr. Osha told clients that Intel's forward looking PE is 52 times estimates. This is compared to a PE on 12-month estimated earnings of 19 in the fall of 1998 and a peak of 45 times estimated earnings this time last year. Therefore, despite an expected bottoming in the semiconductor industry in the second half of the year, Mr. Osha told clients that he has "difficulty imagining any second-half recovery that could raise earnings, and investor expectations, to a level sufficient to keep the stock moving up." The consensus revenue estimate is $6.4 billion. The revenue whisper is slightly higher at $6.5 billion. The First Call consensus earnings estimate is $0.10, while Zacks Investment Research has compiled an average of $0.11. The Earnings Whisper ® number is $0.11, with a weakened gross profit margin of 48% keeping estimates inline despite slightly better revenue. Intel's earnings will be reported at earningswhispers.com after the market closes on Tuesday and we will broadcast the company's conference call at earningswhispers.com beginning at 5:30 PM ET.

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