MATH BUG-I cannot duplicate. Can't find on web, either:
Intel Corp: Insignificant Math Error Found
12:37pm EST 6-Nov-96 Lehman Brothers (M. A. Gumport, CFA 1(212)526-5368) INTC
Ticker : INTC Rank(Prev): 1-Buy Rank(Curr): 1-Buy
Price : $115 7/8 52wk Range: $108-50 Price Target: $ 150
Today's Date : 11/06/96 Recommended List
Fiscal Year : DEC
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EPS 1995 -----1996-------- -----1997------- -----1998-------
QTR. Actual Prev. Curr. Prev. Curr. Prev. Curr.
1st: 1.02A@ 1.02A@ 1.02A@ 1.55E 1.55E 1.90E 1.90E
2nd: 0.99A 1.17A 1.17A 1.65E 1.65E 2.00E 2.00E
3rd: 1.05A@ 1.48E 1.48A 1.72E 1.72E 2.00E 2.00E
4th: 0.98A@ 1.68E 1.68E 1.93E 1.93E 2.15E 2.15E
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Year: $ 4.04A@ $ 5.35E@ $ 5.35E@ $ 6.85E $ 6.85E $ 8.05E $ 8.05E
Street Est.: $ -.--E $ -.--E $ -.--E
@-Includes 1Q95 $+0.06 AMD settlement/other, 3Q95 $+0.03 Altera stock sale,
4Q95 $-0.07 & 1Q96 $-0.03 inventory write-down.
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Net Cash per Share* :$ 5.32 Revenue (1996) : $20.0 Bil.
Return On Equity* : 27.0 % Proj. 5yr EPS Grth : 15.0 %
Share Eq. Outstg.z : 885.0 Mil. Dividend Yield : 0.2 %
Mkt Capitalization :$102.5 Bil. P/E FY96; FY97 : 21.7x, 16.9x
Disclosure(s) : C Book*; Price/Book* :$ 17.22 /sh; 6.73x
*Puts in Equity unexercised; z-Share equivalents; Convertible : None
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**BLIP DICOVERED IN MATH? MEANWHILE REPORTS OF EXTREMELY STRONG PC DEMAND.
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MATH ERROR? There is a story circulating on the internet of an INTC Pentium
math error.
The following calculation:
111,111,111 x 111,111,111 = 12,345,678,987,654,321
computed on a Pentium is wrong by an insignificant amount. We believe that
this is inconsequential to your average PC user.
More importantly, PC demand is extremely strong. We are receiving reports
even from 3rd tier producers like CYRX ($17 3/4-1). |
