Intel Corporation (INTC) Message Board

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Technology Stocks : Intel Corporation (INTC)

INTC 40.12

-1.0%

1:58 PM EST

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To: Raymond Thomas who started this subject	6/24/2002 10:25:55 AM
From: Sparks	Read Replies (1) of 186894

Investec Announces Investment Opinion: Investec Lead Semiconductor Analyst Eric Ross Initiates Coverage of Intel Sees INTC as the Leading Beneficiary of Projected PC Resurgence Monday June 24, 2:50 AM EDT NEW YORK, Jun 24, 2002 (BUSINESS WIRE) -- Eric Ross, Director of Electronics Research and Lead Semiconductor Analyst at Investec Inc., has initiated coverage of Intel Corporation (INTC) with a STRONG BUY rating and a 12-month price target of $35. This is 39x our CY03 EPS estimate of $0.90. "We believe Intel is one of the best positioned companies in the semiconductor space to reap the growth potential in the next upcycle," Ross said. "This is a substantial upgrade from our rating of 'Market Perform' when we previously covered Intel, a rating that is equivalent to an Investec HOLD rating. However, with the stock price of Intel so dramatically lower than where it traded in May 2001 and the potential for upside to expectations from seasonal and enterprise strength in PCs over the next 12 months, Investec believes there is a real opportunity for investors to capitalize on the current market weakness and is rating Intel as a STRONG BUY," noted Ross. "We pick Intel as the leading beneficiary of a potential PC resurgence and the resulting strength in microprocessors due to its roughly 80% unit share," said Ross. "We believe PC unit sales are poised to improve in 4Q02 and more strongly in 2003 driven by consumer seasonality and corporate reinvestment."

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