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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.97

+0.1%

Nov 7 4:00 PM EST

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To: Mike M who wrote (80377)	7/17/2001 7:51:59 PM
From: t2	Read Replies (2) of 99985

What magic did they use to attain $6.3B in revenue? I don't see a full retreat on INTC yet...AH are suggesting down 40-50 cents... Tomorrow will tell. I'm guessing we see 30's before 25... IMHO, you can forget about 25. That looks very far fetched in the face of the aggressive rate cuts and improving business. You are likely to see the mid 30s...the coming months. Like I stated earlier, if the stock does not drop tomorrow, it will go up as a lot of shorts pack it in on this stock...a small short covering rally and new buyer interest as the picture appears to be getting better for the second half of the year. The expectation seemed to have been for an AMD type of report...which we did not get. I have not seen Intel's CFO this positive on the business in a long time. They actually had CPU revenue increase from March to June quarter. That signals the possibility of a bottom. There were just too many traders/investors who expected it to get worse and worse. Their other businesses..are still weak but the PC is the key for INTEL. He also noted that their channel inventories are low right now. It appears there was no magic in hitting 6.3 billion after all. That basically goes against all that talk we had been getting from a lot of analysts. Intel wanted to address this issue. In addition, they have a backlog of orders for the Pentium 4. Very upbeat and maybe a bit conservative in revenue guidance due to the demand uncertainty in September, just ahead of Windows XP launch. They are just giving themselves a bit of a cushion in their revenue guidance and that appears to be the reason for a wide revenue range (imho).

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