ALL, Dan Niles (who correctly predicted the Dell revenue shortfall) is bullish on Intel. Let's hope he is right once again...
joey
Intel, Texas Instruments boost chips
By Tiare Rath, CBS MarketWatch
Last Update: 12:42 PM ET Mar 3, 1999
Tech Report
NewsWatch
NEW YORK (CBS.MW) -- Semiconductor stocks found strength in
Intel and Texas Instruments Wednesday, turning around ugly losses from
earlier in the week.
The Philadelphia Semiconductor Index gained 1.8
percent early Wednesday. BancBoston Robertson
Stephens hardware analyst Daniel Niles released
positive research notes on chip leaders Intel
(INTC) and Texas Instruments (TXN), helping to
boost the stocks.
Niles, who rates Intel as a "strong buy," said the
company's first quarter appears to be on track as
opposed to the slowdown some analysts predicted
earlier in the week. To take advantage of the
damage that was done to the stock, Niles
recommended an "aggressive purchase" of Intel,
saying momentum will pick up in the chip-maker's
business in March with the release of its Pentium III
processor.
Intel's shares gained 2 1/4 to 112 1/16.
The analyst also reiterated his "strong buy" rating on
Texas Instruments, sending the stock up 3 1/16 to
89 9/16.
Texas Instruments is holding its analysts' meeting Thursday, and Niles said
he thinks TI's wireless business is making up for some weakness in
storage. His belief is that the company is "comfortable with modest
sequential revenue growth with a slight increase in gross margins."
Other stocks on the upside were Novellus (NVLS), which gained 1 5/8
to 57 3/4; and Altera (ALTR), which continued its volatility, rising 2 9/16
to 52. Advanced Micro Devices (AMD) rose 1/8 to 18 5/8. |
