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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: Raymond Thomas who wrote ()12/14/1996 7:52:00 PM
From: Ken Palmer   of 186894
 
RE: How low can Intel go? I'm looking for a good time to buy!!

Is this world crazy looking to beat the system? Intel is the proven bellweather company of the technology industry. Current year earnings expectations are in the $5.50 "plus" range, or a P/E of 24. They continue to grow revenue and earnings at a minimum 30% clip. They have an estimated 87% market share and introduce new products 12 to 18 months ahead of nearest competitor. Is there a better franchise out there? Haven't they established themselves as a generic word?

If you believe that the market will continue to sustain itself then does it really matter whether Intel is quoted at 132 or 140? Ask yourself where will it be 12 months from now...or 24 months from now? Today is the first day of the rest of your life! So, in my opinion, today is the best day to buy Intel.

At a 24 time multiple for 1997 earnings, @$7.50 = 180, @$8.00 = 192, @$8.50 = 204 and @$9.00 = 216. What's wrong with an ROI that could average from 36% to 64% based on its current price of 132?

Only a serious overall market correction will stop its momentum. And that's likely to be short term in nature. Isn't the S&P selling at a P/E of 19? Doesn't Intel deserve to be trading at a premium because its growth rate is so good. After all, Intel is not selling at a ridiculous P/E like 45, 60, or 75 times. There's not a better story on the street!
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