Advanced Micro Devices - Moderated (AMD) Message Board

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Technology Stocks : Advanced Micro Devices - Moderated (AMD)

AMD 231.94

+0.1%

Jan 20 3:59 PM EST

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To: jcholewa who wrote (21966)	12/8/2000 9:49:29 AM
From: dhellman	Read Replies (1) of 275872

J Osha AM Call on INTC: Intel (INTC, $32.31, B-2-2-7) Lowering 00E from $1.69 to $1.65; Lowering 01E from $1.64 to $1.56 • Intel pre-announced downside for the fourth quarter that was worse than our conservative expectations. • We are revising our Q4 earnings estimate to $0.38 from $0.43. For 2001 we are dropping our earnings estimate to $1.56 from an already-conservative $1.64 – that is driven entirely by a cut in our non-operating income forecast for 2001. • We reiterate our accumulate rating. As investors realize in Q1 that the semiconductor cycle is not ending, Intel should be towed along with the group. • We were surprised by Intel’s pre-announcement, given the fact that our checks had suggested sequential PC growth in the mid to high single digits. We think inventory levels are a problem. • As we expected, performance from Intel’s server MPU and flash businesses remains decent. (J. Osha)

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