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Technology Stocks : INTC

INTC 40.16

-2.9%

Oct 30 3:59 PM EDT

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To: Jules B. Garfunkel who wrote (824)	1/14/1998 4:36:00 PM
From: Barry Grossman	Read Replies (1) of 990

Hi Jules, I've missed your calm reasoned analysis and I am happy to see your post today. Which calls did you like today? It appears analyst's egos are more important to them than reality. It's a good thing that reality has a way of intruding on perceptions after a while. It was indeed good news about Europe and China and about the fast ramp of the PII. I suspect that 1Q98 earnings will surprise on the upside too as these same analysts seem to think that the margins will be 55% in this quarter. I read it as all of 1998 and I also notice that they said plus or minus a few points so that doesn't preclude all of 1998 coming in at 57%. With a fast ramp of the PII, the real story will be the total profit dollars anyway, not the margin percentage. With mpu unit sales forecast to grow at 17% or so, this bodes well for the 1998 numbers. Also, the BTO inventory adjustment is probably over now too. Barry

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