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Technology Stocks : Intel Corporation (INTC)
INTC 50.59+4.9%Feb 6 9:30 AM EST
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To: Darren who wrote (59637)7/10/1998 10:26:00 AM
From: michael ehrenberg  Read Replies (2) of 186894
 
100 may come sooner.

If you look back one year ago...July 1997 at the chart you will see
that we are in the process of repeating history. Intel started the
month around 70 back then (this after a warning from Intel on May 31 about not meeting expectations)...within 6 weeks it was up to its high of 102. This after ratcheted down estimates from all analysts. Of course we did have a split last July. However, this next move up to 100 will be over ground we've already covered.

At 100 and 1998 estimates of 3.20 per share this leaves a PE of about 31.

Meanwhile other bellweathers like Microsoft, Coke, Gillete have PE's between 45-75. Thus, a share price of 100 should not be hard to reach and is still very conservative!!

Intel has been held under water for way too long now and the money managers are finally seeing the light!
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