INTC Message Board - Msg: 2457192

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Technology Stocks : INTC

INTC 38.16

+2.5%

Nov 7 9:30 AM EST

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To: Jules B. Garfunkel who wrote (693)	10/15/1997 8:51:00 PM
From: Road Walker	of 990

Jules, Agree almost 100% with you analysis, a couple of points and questions: * You are right that Intel could have easily met/exceeded estimates with any number of accounting "tricks", in fact I would guess that they used accounting tricks NOT to meet estimates. On top of that, the were un-cooperative, almost abrasive, to the analysts on the conference call. What is their motive or incentive to driving down the stock price? * The raw materials inventory and finished goods inventory being down is good news from a GM/profit standpoint. Also the average-day-sales-outstanding can be viewed in two ways, it is certainly more profitable to turn finished inventory quickly, if it indicates slowing orders it is a bad sign. I would rather believe that Intel is becoming more efficient at projecting orders and turning raw materials into invoiced product. A BIG long term plus for profits. My major question is, why drive down the stock price with this quarters earning release, I really don't get that part? Thanks for the excellent analysis, John

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