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Technology Stocks : Intel Corporation (INTC)

INTC 36.15

-0.6%

Dec 24 12:59 PM EST

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To: robert w fain who wrote (38788)	11/3/1997 7:17:00 PM
From: daniel dsouza	Read Replies (4) of 186894

Investors are displacing Intel from their portfolios. Citing strong earnings momentum, DMG's Galvin added PeopleSoft (PSFT) to the "focus" list to replace Intel. Shares of the software developer rose 4 5/8 to 67 1/2 investor.msn.com Intel (INTC) shares jumped 1 5/8 to 78 5/8 in conjunction with the renaissance in tech stocks, despite negative news from the analytical community on two fronts. Deutsche Morgan Grenfell's chief stock strategist, Tom Galvin, removed the chip giant from his "focus" list, and Hambrecht & Quist's chip analyst, Rob Chaplinsky, downgraded his rating on Intel to "hold" from "buy." "It's all related to the growth in the sub-$1,000 PC platform. This is really a long-term issue, (and) there are ramifications to Intel's average selling price," Chaplinsky said. "The low end continues to grow very fast, putting pressure on Intel to cut prices or give up market share." .

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