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Technology Stocks : Intel Corporation (INTC)

INTC 40.14

-0.5%

1:44 PM EST

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To: Paul Engel who wrote (56764)	6/3/1998 1:11:00 PM
From: Maverick	of 186894

The commission is expected to consider the case next week. Normally, companies that face a possible FTC complaint are given the opportunity to try to argue their side of the case to the commissioners individually. ''We will avail ourselves of every opportunity to make our case,'' said company spokesman Chuck Mulloy. He declined to comment on whether Santa Clara-based Intel, the world's largest chip maker, had scheduled any meetings with commissioners. Shares of Intel closed Tuesday up $1.25 at $69.25. The stock fell nearly 5 percent to a 52-week low Monday after Intel said it would delay by at least six months the general release of its Merced processor, its next-generation chip for high-end business systems. Analysts have also blamed the stock's decline from a recent high of $84.56 on May 12 on uncertainty about the company's future earnings in the personal computer market. A decline in growth of PC sales and rising competition from low-end chip makers have hurt the company's revenue, analysts said. It is that cutthroat competition that Intel is expected to cite in its defense of charges that it uses its dominance in the market for computer chips to stifle competition. The FTC's Bureau of Competition has recommended that the commission bring an administrative complaint charging Intel with unfair competitive practices, people familiar with the investigation have said. The allegations that Intel withheld from other companies technical information about the architecture of its microprocessors and chips were first made in private lawsuits by Digital Equipment Corp. and Intergraph Corp. Digital dropped its case after agreeing to sell its chip-making business to Intel for $625 million. Intergraph charged that Intel withheld the technical data to coerce Intergraph into giving up patent rights for its graphics computer chips. A federal judge has issued a preliminary injunction ordering Intel to resume providing the information. Intel is appealing the order. An FTC action against Intel would come as the Justice Department is pursuing a broad antitrust suit accusing software giant Microsoft Corp. of illegally defending its virtual monopoly in the market for personal computer operating systems.

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