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Technology Stocks : Intel Corporation (INTC)
INTC 41.14-3.4%Jan 8 3:59 PM EST
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To: Doug M. who wrote (38335)10/29/1997 7:24:00 PM
From: Richard Tuck   of 186894
 
Doug,

Good analysis. I agree with you about when INTC will start growing again. I think that Windows 98, Deschutes, and the 440BX are key to Intel's success next year. They will allow INTC to differentiate the Pentium II from the earlier models and the 0.25um process will be ramped up by mid-98 (thus providing lower costs). Don't expect much from Merced until late 1999 or early 2000. That is a long ways off and a lot can change in two years time.

Let's all hope that INTC ships a lot of units this Christmas or we will be lucky to maintain 80.

One comment about the P/E of 15 predictions: baloney. Intel is virtually a monopoly and monopolies do not go for P/E's of 15 in a growth market unless there is a threat to the monopoly. AMD and Cyrix seem to be receding as threats and Network Computers have an uphill battle. Therefore, INTC should retain its PE of 20 at least, which means a price of 76 or 77. That does not mean that it won't go down to 70, it just means that it won't stay down there long.

Richard
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