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Technology Stocks : Intel Corporation (INTC)

INTC 35.53

-1.1%

3:59 PM EST

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To: Ben Antanaitis who wrote (64435)	9/11/1998 9:00:00 AM
From: herb will	Read Replies (3) of 186894

Ben-----Just a few choice comments from Tom Kurlak as reported which appear to be germane: May 15, 1998 :Kurlak agrees. "The decline into negative territory makes any industry growth in 1998 unlikely," he said. "We continue to forecast a no-growth year, implying still weak earnings in the second half." "The problem is not unit growth, because the demand is there. Revenues aren't growing because of pricing," Perlman said. "The pattern that's emerging is that this is just becoming a seasonal and not a growth business." July 29,1998: Merrill Lynch's Tom. Kurlak voiced concern about semiconductor stocks, citing Intel's (INTC) price cuts and Advanced Micro Devices' (AMD) excess inventory of microprocessors. Kurlak said he saw no reason for investors to accumulate chip issues now, citing an earnings downtrend and seasonally adjustments for the third and fourth quarter estimates. Also, third- and fourth-quarter estimates of industry sales may continue to decline at a rate of 15 to 20 percent vs. last year says Kurlak. Intel shares rose 1/8 to 85 3/4 while AMD's shares fell 1/4 to 16 1/4. 09:04 ET Semiconductor Stocks: Thomas Kurlak of Merrill Lynch is again making negative comments about the sector; sees no evidence that price uptick can be sustained as excess supply of chips still very much in place; continues to recommend that investors stay away from the usual suspects -- Intel (INTC 84 7/16), Herb ''

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