Intel Corporation (INTC) Message Board

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Technology Stocks : Intel Corporation (INTC)

INTC 50.59

+4.9%

Feb 6 9:30 AM EST

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To: Larry Loeb who wrote (5145)	11/12/1996 5:19:00 PM
From: VICTORIA GATE, MD	of 186894

NEW YORK, Nov 12 (Reuter) - Intel Corp shares reversed course and fell sharply Tuesday as traders interpreted a Goldman Sachs call to clients as a caution that personal computer sales may be slowing. A Goldman spokesman denied the brokerage had downgraded Intel or any of the PC manufacturing stocks. He said a weekly conference call this afternoon by PC analyst Rick Shute may have been misinterpreted. The analyst was not immediately available to comment. Intel shares were off 3-3/4 at 120-3/8 at 1525 EST/2025 GMT. The stock had hit a new year high of 125-1/8 earlier. Intel share volume had escalated quickly and had surpassed 11 million shares. The sell-off began shortly before 1400 EST/1900 GMT. Traders said comments made by Schute during a conference call with clients had been taken as a warning that PC sales may be slowing, leading investors to speculate that Intel, as the dominant supplier of microprocessors around which PCs are built, might be caught with an oversupply of chip inventory. The Goldman spokesman said that while he had not listened to the call himself, Schute had not changed his opinion of any of the companies he follows. "We were still optimistic," the spokesman said. "To the best of our knowledge, he didn't change his opinion." Schute does not follow Intel directly himself. -- E. Auchard, Wall Street bureau, 212-859-1736

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