Slide Rule:
re < Any idea why the change in direction beyond the news of the day?>
The news of the day was pretty significant in the eyes of many:
WSJ Janaury 30, 1997:
Intel Corp. cut prices less aggressively than expected on its most powerful microprocessors, sending a message that it now so dominates its industry that it can flex its muscles with little fear of competition....
Dan Niles, an analyst at Robertson, Stephens & Co., said he was shocked by the position on high-end Pentium and Pentium Pro chips. "It means that demand is so strong that they really don't need to do any significant cuts," he said, adding he may raise his first-quarter
earnings estimates for Intel as a result.......
"Clearly, Intel is in a very strong competitive position," added Mark Edelstone, an analyst at Prudential Securities.......
Drew Peck, an analyst at Cowen & Co., noted that Intel had given itself further pricing leverage by introducing the MMX technology earlier this month. STOP
A spate of good news stories like this fuels Intc to new highs. I can feel it in my bones.
Best Regards
Greg Gimelli |
