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Technology Stocks : Intel Corporation (INTC)
INTC 36.82+1.5%Dec 19 9:30 AM EST
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To: gnuman who wrote (40376)11/14/1997 4:13:00 PM
From: Paul Engel  Read Replies (2) of 186894
 
Gene - Re: "Lehman reports some clients say INTC to cut prices in Dec.
Go to bottom of first AMD article. "

This may be true - Intel is getting pretty agressive.

However, we must consider the source here.

Michael Gumport would probably like to see Intel drop a lot more in light of the fact that Mr. Gumport has had to issue 5 or 6 "re-tunings" of his AMD projections, bringing his $55/share AMD estimate down to a mere prayer for $35.

GUMPORT stated in June that they (Lehman) would not be buyers of Intel ABOVE $65 (I corrected for the split) about 5 months ago - and Intel's stock went to over $100. Even after all the S.E. Asia debacle, earnings debates, sub $1K BS, etc., Intel is $14 ABOVE that value! Talk about being absolutely, 110% WRONG!

And AMD has to go up by 75% just to get to $35!

Of course, Gumport didn't bother to tell his "clients" how sorry he was to have predicted $55/share for AMD on August 27, 1997 and then have to drop that one week later when AMD issued their first of MANY yield disaster warnings.

And now he's "praying" for a recovery to $35! What a hoot!

How GUMPORT can even utter his estimates without qualifying them as WILD $SS guesses is beyond me. Certainly his track record is in shambles regarding his AMD prognostications.

Paul
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