Semiconductor and Semi-Equipment Analysts - Their Calls Message Board

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Technology Stocks : Semiconductor and Semi-Equipment Analysts - Their Calls

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To: Proud_Infidel who wrote (18)	12/18/1998 1:14:00 PM
From: FJB	Read Replies (2) of 195

Uh oh. This story sounds like post-Christmas lies to me. <VBG> PC-Related Stocks Rise As 'Less Severe' 1Q Seen Dow Jones Newswires NEW YORK -- Shares of personal-computer-related stocks rose early Friday on expectations that the industry will have a softer landing than usual in the first quarter. The industry is seeing solid demand in the current quarter, which is typically its strongest, analysts said. But they also said the first quarter - which usually greets the industry like a New Year's Day hangover - won't be as harsh as usual. "PC demand remains solid and inventories appear to be lean," said Mark Edelstone, an analyst at Morgan Stanley Dean Witter. He also expects "less-severe-than-average seasonality in the first quarter." For these reasons, Edelstone boosted his earnings estimates on Intel Corp. (INTC), the leading computer-chip maker. For this year, Edelstone raised his estimates to $3.48 a share from $3.45; he also boosted his estimates for next year to $4.60 a share from $4.40. Intel shares rose 3 1/8, or 2.7%, to 120 in early trading Friday. Compaq Computer Corp. (CPQ) shares rose 1 5/8, or 4.2%, to 41 3/4, and Dell Computer Corp. (DELL) shares rose 1 1/2, or 2.2%, to 67 1/4. Semiconductor equipment maker Applied Materials Inc. (AMAT) rose 8% after Goldman Sachs said in a research note that gross margins are improving and first-quarter earnings probably will come in "toward the high end of previous guidance."

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