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Politics : Formerly About Applied Materials

AMAT 262.31

-1.2%

10:18 AM EST

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To: Jerome who wrote (44001)	3/19/2001 10:33:58 PM
From: advocatedevil	Read Replies (3) of 70976

RE: "I'd feel better about the whole group if INTC showed some strength." Did you read Ashok's comments today about Intel and the economy?... not very positive: "We believe that the second-half of 2001 will not be a period of recovery but a full-fledged consumer and manufacturing recession. As the U.S. rolls into a recession, Asia and Europe are expected to follow. We do not believe that the market has discounted this and it is quite possible that the Nasdaq could significantly undercut the next support at 1800." and... "If we do enter into a recession in the second half of 2001, it is likely that Intel will retest the valuation lows of 1998, which would take the stock down to the high teens." Yeah, I know, he's another analyst, but he is one that is influential and respected by many who follow Intel and the sector in general. On a positive note, Ashok commented on capex: "Intel is laying the groundwork to gain market share with a huge investment in manufacturing facilities. The company plans $7.5 billion in capital expenditures this year and has not trimmed these plans in the face of falling revenues," Kumar wrote, saying the company is in the middle of a transition into smaller 0.13 micron and 300 millimeter chips that provide excellent performance and lower prices. "With a 6- to 12-month lead over AMD and others in both 0.13 micron and 300 millimeter wafers, Intel will be the lowest-cost producer, enhancing its gross margins and giving the company an edge in any price war." So, $7.5 billion is holding firm... for now. AdvocateDevil Reference article: thestreet.com

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