Tony, Prudential is certainly Fickle! I undertand Prudential downgraded Intel this week. But only a week ago, a Prudential analyst was very upbeat about Intel.
I found the following quote:
Intel( Intel Corp ), techs seen taking U.S stocks higher
By Andrej Gustincic
NEW YORK, Jan 30 (Reuter) - Strength in shares of Intel Corp is expected to power the high techs and take
Wall Street stocks higher at the opening in a follow through to yesterday's rally which ended a week-long losing
streak for the Dow Industrials.
Once trading is under way, the tone for Dow will be set by bellwether International Business Machines Corp , and
investors will also turn their attention to Federal Reserve chairman Alan Greenspan's testimony before the Senate
Finance Committee. The testimony will dictate the performance of the bond market, which in turn, will affect
equities.
"Intel had that good report on smaller price cuts than had been anticipated, and Intel is a bellwether," said Larry
Wachtel, ANALYST AT PRUDENTIAL SECURITIES.
Intel said it cut pricing for the first quarter on some microprocessor lines, but left pricing unchanged on its higher
end Pentium Pro chips, a move analysts said SHOWED STRONG DEMAND FOR THE CHIPS."
Today, MIKE MC CARDY, manager for THE NEW MILLENIUM FUND, said on my business radio station, that he considered INTEL a good buy because Intel has tremendous growth in its future.
I am unsure about the spelling if Nc Cardy's name. Perhaps someone can tell us exactly how he spells his nane.
Thanks for the information about analysts!
I would comment on your post more fully. But I have to get off the computer. I have repetitive stress injury to both arms. And because of those injuries, the doctor says "Stay off the computer."
Best wishes,
PS: I wonder if the Prudential analyst that downgraded INTEL KNOWS THE ANALYST that views INTEL in a positive way! |
