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Technology Stocks : Intel Corporation (INTC)

INTC 47.57

-1.6%

2:04 PM EST

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To: MONACO who wrote (69180)	11/28/1998 7:03:00 PM
From: Mary Cluney	Read Replies (1) of 186894

MONACO, Boys and Girls - and Investors of ALL Ages. Merrill Lynch and Pierce & Fenner presents the greatest CFA entertainer of all time : Thomas Kurlak, First Vice President, in an off Broadway production (in Secaucus, New Jersey) of an AMD upgrade. (With selected quotes from the upgrade): >>>What has changed? We have raised our investment opinion on AMD from Neutral to Accumulate to reflect its considerably improved competitive position in the microprocessor market, which is driving earnings to a higher than expected level in 1999. Our estimate has been raised from $1.00 a share to $1.55. <<< - end of quote. There is no business like show business..... Kurlak does not pretend to do any analysis. He does not provide a Historical and Forecast Income Statement or a Sales & Earnings Sales Model as he ususally does. At least in those cases where he has the same rating for NSM and Intel - he pretends to some forecast or model - at least suggesting that he did some homework. In the AMD upgrade there is no discussion of risk - issues concerning yield - or cost reduction. He ups earnings estimate by 55% from First Call report of mean estimates. In this case he provides only a broad brush opinion - something that even I could do from my living room (just come up with some opinion - without any supporting detail). Come to think of it, I do a pretty good Ethel Merman from the living room. There's no business like show business like no business I know..... Mary (Martin) Cluney

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