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Technology Stocks : Intel Corporation (INTC)
INTC 36.38-1.3%3:59 PM EST
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To: Petz who wrote (38288)10/29/1997 4:18:00 PM
From: Mary Cluney  Read Replies (3) of 186894
 
John,

>>>In retrospect, Tom Kurlak was RIGHT!
Intel is 81.5 now. Where was it when he lowered his opinion? Intel will soon have 3 consecutive quarters of lower profits. For the 4th quarter to have lower profit than the 3rd quarter will send the stock down to 60 with a PE of 15 like it deserves.<<<

That's one jaundiced way to look at it. Here's a far healthier way to look at it(from current issue of Fortune magazine):

>>> Intel is already sitting pretty, holding an 80%-plus share of the market for microprocessors that go into PCs. That dominance has made Intel one of the most profitable companies on earth: For the nine months ended in September, it made $5 billion on sales of $18 billion, and appears to be on track to rack up more than $25 billion in annual sales. But margins have shrunk slightly in recent quarters because of competition from Pentium clones; a new high-end processor would give Intel a boost by broadening its markets.

AMD's Dham is only half-joking when he says: "Merced will ensure Intel's dominance of the microprocessor business for the next 50 years." <<<

If one of the most profitable companies on earth is worth a PE of 15, what is AMD worth. Don't tell me AMD is priceless because it has no earnings.

Mary
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