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Technology Stocks : Intel Corporation (INTC)

INTC 47.29

+7.3%

3:59 PM EST

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To: Yaacov who wrote (39408)	11/7/1997 2:15:00 PM
From: Barry Grossman	Read Replies (3) of 186894

Yaacov, Bruce Francis just reported outside the Intel analyst's meeting and said: -Intel's message was bullish but more important than what they did say was what they didn't say. -the bears were caught short this am as they expected and Intel earnings warning and didn't get it. -One of the ways Intel will deal with conditions in the market is that they will offer a broader range of products in the future than they have in the past. They will have products for 10 different market segments vs. 4 segments. -Intel confirmed that they do no think that cheap pc's are expanding the market -there is a short term inventory correction, due to cutomer changeover to JIT ordering and this will effect 4Q97 sales by $500-750MM, and is why they preannounced that 4Q97 revenues would only be flat to slightly up. Inventory correction is almost over now. -Most analysts came out of the meeting feeling relieved and bullish on Intel's prospects. -Not all analysts are convinced though. He said that Drew Peck, Intel bear, is uncovinced and has yet to change his recommendation to buy even though prices have fallen significantly. Barry

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