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Technology Stocks : Advanced Micro Devices - Moderated (AMD)
AMD 227.90+2.0%Jan 15 3:59 PM EST
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To: g_w_north who wrote (135725)10/11/2004 11:47:27 AM
From: RinkRead Replies (2) of 275872
 
Question: Intel added inventory. Is that likely to be both in processors and flash?

Kind regards,

Rink

Credit Suisse First Boston expects Intel (nasdaq: INTC - news - people ) to report third-quarter results in line with its estimate for earnings of 27 cents per share on $8.4 billion on revenue. "We believe September had normal growth off a weaker August," CSFB said. The research firm said it expects "conservative" fourth-quarter guidance Intel increased inventory $427 million quarter-over-quarter in the second quarter and indicated in its mid-third-quarter update that inventory could ramp a further $150 million "due to slower demand than expected and ramp of product outside processors." CSFB said, "We believe the company will cut wafer starts aggressively in the fourth quarter of 2004 and first half of 2005 to lower inventory, but at the expense of near-term gross margins." Overall CSFB has a "mixed outlook" for Intel, seeing "some risk" to reduced consensus 2005 revenue estimates due to the lack of a driver for average selling prices or units, mild PC unit growth and potential overcapacity. CSFB rate Intel at "outperform" with a $25 target price.
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