Your friend Niles likes to get ink.
NEW YORK (Dow Jones)--Intel Corp. (INTC) shares fell by more that $4 earlier Tuesday on renewed rumors that the company could pre-announce a sales shortfall for the first quarter, but at least one prominent analyst thinks the company is 'on track.'
The story floating around the market Tuesday goes something like this: Intel is putting pressure on its sales force to book as many orders as possible by Thursday, March 11. If the company doesn't meet targets by then, the company will pre-announce, market sources said, adding quickly that the story is just a rumor.
Dan Niles, an analyst at BancBoston Robertson Stephens, said he had heard the rumor but doesn't believe it.
'March looks like it's pretty much right on track' for Intel, Niles said.
Niles said rumors that Intel would pre-announce have circulated since reports from Compaq Computer Corp. (CPQ) indicated that PC sales weren't as strong in February as had been hoped for.
And having Intel rival Advanced Micro Devices Inc. (AMD) preannounce a loss Monday 'gives more fuel to the fire,' he said.
'People are nervous right now, and I don't blame them,' Niles said. Many PC companies are having a 'tough' first quarter.
An Intel spokesman didn't immediately return calls for comment.
|
