> I'm leery of simply multiplying the $1.48 X 4, since there's a
seasonal pattern to the sales volume, eh?
Indeed there is...
% earnings growth over prior quarter
92 93 94 95 96 5yr avr
Q2/Q1 1.09 1.05 1.04 1.03 1.15 1.07
Q3/Q2 1.12 1.02 1.00 1.03 1.26 1.09
Q4/Q3 1.75 1.00 1.07 0.96 1.19
Q1/Q4 1.27 1.06 1.23 1.04 1.15
annual 2.70 1.13 1.37 1.06 1.60
But verily, Intel as a classic growth company hardly ever
retraces its gains.
And if that ain't enough, here's some earnings upgrades
(numbers in parentheses are old estimates):
Andy Neff, Bear Stearns, 96 5.30 (4.85), 97 7.00 (5.90)
Rob Chaplinsky, H & Q, reinstated coverage, 96 5.24, 97 6.88
Erika Klauer, Salomon, 96 5.30 (4.70), 97 7.00 (6.00)
Dan Klesken, Robertson Stephens, 96 5.40 (5.05), 97 7.25 (6.60)
Vincent Glinski, Rodman & Renshans, 96 5.45 (4.95)
$1.75+ next quarter is definitely doable. Heck, if I was an
irresponsible huckster, I would say $2.00 is within the range of
possibility. But I would never do that ;-)
Have I made you an Intel bull yet? We are legion.
Happy trading,
Larry |
