Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: isopatch who wrote (31372)	7/16/2003 2:35:10 PM
From: Arik T.G.	Read Replies (1) of 36161

Yeah, I know it as - better two days before then two days after. The S&P looks weak today but the Naz keeps a relative strength thanks to INTC. Intel is one of the few companies I have studied and came to a strong FA opinion about them. Since late in 1999 I have argued that the PPU (price per unit) cannot remain at the high levels it reached in 1999 , and the conclusion was that gross margin of 60% is not sustainable. In 1999 gross margin was 59.7%, in 2000 it reached amazing 62.5%, then in 2001 it fell to 49.2% and in 2002 stayed there at 49.75%. The 1st half of 2003 was better with 51.45% gross margin, and the full year should even be better (around 53%) but that's not 60%. I keep my estimate for INTC at $17 as highest economic value for the stock, which I didn't change for the last 3 years. Anyone with strong search inclination can find the relevant posts on SI. ATG

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