Intel Corporation (INTC) Message Board

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Technology Stocks : Intel Corporation (INTC)

INTC 40.51

-7.4%

3:59 PM EST

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To: Bald Man from Mars who wrote (113760)	10/16/2000 12:15:08 PM
From: Road Walker	Read Replies (2) of 186894

Salomon cuts Intel price target to $50 NEW YORK, Oct 16 (Reuters) - Salomon Smith Barney cut its one-year price target for Intel Corp (NasdaqNM:INTC - news) to $50 from $75 amid weakness in the personal computer market, according to an investor's note. Salomon cut Intel's third-quarter revenue growth outlook to 2 percent from 4 percent, and earnings per share estimates in the quarter to 37 cents from 38 cents. Salomon also lowered its fourth-quarter earnings per share estimates for Intel to 37 cents from 40 cents. ``The company continues to rapidly expand capacity at a time when demand is coming in much weaker than anticipated, which we believe will have a leveraged and negative impact on margins in Q4 and in 2001,'' the note read. The note also said that a hoped-for pickup in personal computer demand in mid-October has not been realised. Shares of Intel, already beaten down from a recent sell-off in technology stock, fell more than 10 percent, or $4-3/16, to $36-3/16.

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