tech2000,>>>I will be smiling all day tomorrow.<<<
Don't look now, but you and I are the only Intel bulls left. The Street is full of fear. Sentiment is terrible even though fundamentally nothing has changed since the beginning of the year when Intel provided guidance that 1Q revenues would be flat to slightly down. They were comfortable with analysts projections of $1.10 in earnings down from $1.19. Unless they were predicting huge increases in expenses (which I didn't hear about) lower earnings ($1.10) would mean commensurately lower revenues.
But, with the way sentiment is running, I can hear it now. Bob Pisani reporting from the floor of the NYSE in a whinney voice:
"ehhh, Intel reported (>)15% increases in YOY sales and (>) 50% increase in earnings. But the street was disappointed , uh, uh, as revenues was far short of last quarters record revenues of 7.6 billion dollars. Further, Nugyen's Computer Shack on Bridge Plaza in Fort Lee, NJ reported losses in PC sales resulting in 125% lower earnings for the quarter citing weakness in worldwide PC demand as the reason. uh, they took me over to their, uh, warehouse in Bergen County (near my mother's house) last night and showed me rows and rows of unsold PC's with AMD processors inside. So, things may not be as rosy as some would like us to think. Back to you, uh, Joe, uh, no Mark."
Regards,
Mary
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