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Strategies & Market Trends : Guidance II

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To: 2MAR$ who wrote (500)	3/13/2002 7:16:31 AM
From: DebtBomb	of 2077

5:02am 03/13/02 JP Morgan cuts INTC, AMD estimates (INTC, AMD) By Emily Church JP Morgan Securities overnight cut its earnings per share and revenue estimates on Intel Corp. (INTC) for the second quarter and the full calendar 2002, telling clients "we believe the second quarter will be more sluggish than previously anticipated due to aggressive price cuts, channel inventory as well as channel confusion... The combination of two price cuts in April and May will likely lower the list prices of current P4 product lines by roughly 50 percent." Analyst Eric Chen cut his second quarter estimates to $6.43 billion of revenue and earnings of 11 cents a share, lower than his original $6.88 billion and 14 cents a share estimate. Chen also cut revenue and bottom line second quarter estimates for rival Advanced Micro Devices (AMD) in anticipation of aggressive P4 price cuts from Intel "posing a significant threat to AMD's market share position," he said. The broker now sees AMD's second quarter revenue at $885 million and a 3-cent per share loss, down from an eariler estimate for revenue at $903 million and a 1-cent a share loss.

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