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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Dealer who wrote (3579)	9/25/2000 11:39:58 AM
From: Dealer	Read Replies (1) of 65232

INTC--Intel shares bounce from Friday's rout By Martin Cej, CBS.MarketWatch.com Last Update: 10:45 AM ET Sep 25, 2000 NewsWatch Latest headlines Today on CBS MarketWatch Tech stocks rebound DoubleClick makes $120 million acquisition Biotech stocks take off Sotheby's settles lawsuit for $256 million IPO Report: Southern Energy, CoSine headline IPO sector sale More top stories... CBS MarketWatch Columns Updated: 9/25/2000 10:15:02 AM ET NEW YORK (CBS.MW) -- Intel stock rose Monday as investors took advantage of Friday's rout to add more shares of the world's largest computer chip maker to their portfolios. Intel (INTC: news, msgs) gained 75 cents to $48.69 as 40 million shares changed hands in midmorning trade, making the stock the most active on the Nasdaq market. Intel plunged 22 percent Friday after the company said late Thursday that it would fail to meet revenue expectations in the third quarter due to slowing European sales. Intel said sales would increase 3 percent to 5 percent on the previous quarter's $8.3 billion. "Growth has slowed right down," agreed Robin Griffiths, chief technical analyst at HSBC in New York. "However, this isn't the end of the high tech boom." "This dip is a buying opportunity," Griffiths advised. Indeed, Intel shares closed at a 52-week high of $75.81 as recently as August 28. Investors patient enough to resist the slide from that high until the open of trading Monday, were able to pick up Intel shares 37 percent cheaper than those who bought at the high. Martin Cej is a reporter for CBS.MarketWatch.com.

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