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Technology Stocks : Intel Corporation (INTC)

INTC 34.50

+2.6%

Nov 21 9:30 AM EST

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To: Amy J who wrote (181121)	5/13/2005 12:23:00 PM
From: Proud_Infidel	Read Replies (1) of 186894

Intel, AMD May Benefit From Strong PC Supply Chain 05.13.05, 12:13 PM ET Bear Stearns maintained an "outperform" rating and $29 target price on Intel (nasdaq: INTC - news - people ), saying that while the company's exposure to the flash market is relatively small, its execution in the NOR chip market has been "superb." On the microprocessor side, data points from the PC supply chain have been positive for the second quarter, according to Bear Stearns. The research firm said Intel's ability to lower production costs should accelerate in the second half of the year given its 65nm transition and lower startup costs. Bear Stearns said positive data from the PC supply chain bode well for Advanced Micro Devices (nyse: AMD - news - people ). But AMD's significant exposure to the flash memory market, which represents 36% of revenue, should limit revenue upside in the near term. "Although we are not lowering our estimates at this time, we believe our second-quarter revenue and earnings-per-share estimates for AMD are at risk if order rates from the wireless market do not improve in June," Bear Stearns said. Elsewhere in the sector, the research firm maintained a "peer perform" rating on SanDisk (nasdaq: SNDK - news - people ) and an "outperform rating" on Samsung Electronics.

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