Patrick...I just noticed that after the bell Friday, INTC announced that Merced (64-bit next generation chip) will be be delayed 6 months. It was supposed to be released in the fall of 1998, but according to a news article on yahoo, Intel said Friday that they don't have a working model in silicon yet.
Last trade Change Prev Cls
May 29 ú 71 7/16 -2 1/16 (-2.81%) 73 1/2
according to PT Brokerage, Friday:
INTC close: 71 7/16 5:09PM: 69 1/2
Here's a pretty good summary of Intel woes:
news.com
Note that in the article it says that my State, Washington, gave Intel tax incentives and a freeway interchange as an incentive to build their Dupont, WA plant in 1996, which they are now closing. So now Intel has to cough up $2 million to the State of WA for closing the plant prematurely.
Would have been nice to have bought puts on INTC a few days ago when I told a poster on this thread re INTC; "Puts might be a better idea". Intel was at around 74-3/4 at that time. I also told my sister about three weeks ago that she should seriously think about selling her GTW stock. I very rarrely give her advice like that, but I was concerned because she had bought GTW last Nov (I guided her as to entry point) at $28, so when I talked to her a few weeks ago, GTW was at $58, or more than doubled since Nov. It's sold off fairly heavy since then. I should have followed my own advice there too, and bought puts. |
