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Technology Stocks : Intel Corporation (INTC)

INTC 36.78

+2.7%

3:59 PM EST

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To: Tony Viola who wrote (147167)	11/8/2001 2:44:04 PM
From: Elmer	Read Replies (1) of 186894

Tony here's what's showing up on the Dow Jones news wire: AMD said the outlook for flash memory going into 2002 remains uncertain, and the integrated circuit maker expects pricing pressures on related products to remain "intense." These conditions will delay the return to profitability until the second quarter of 2002, the company said. Cost cuts will help improve operating results in the second quarter and beyond, the company said. While the AMD expects "only very modest overall growth" in the semiconductor industry next year, it still sees new product and lower manufacturing costs leading to a profit in 2002. Advanced Micro Devices has been locked in a brutal price war with rival Intel Corp. (INTC), which has cut into sales for both companies. In October, Intel put fourth quarter revenue in the range of $6.2 billion to $6.8 billion, below analysts' view at the time of $6.8 billion. In the third quarter, Intel's operating earnings fell to 10 cents a share from 41 cents a share the prior year, hurt by pricing pressures and an industry slowdown. Advanced Micro Devices said its fourth quarter outlook otherwise remains unchanged from its earlier forecast of an operating loss for the period. New York Stock Exchangelisted shares of Advanced Micro Devices traded recently at $13.30, down 24 cents, or 1.9%. Bill Platt; Dow Jones Newswires; 2019385400 (END) DOW JONES NEWS 110801 02:01 PM

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