"Intel Aside"
By James J. Cramer
4/13/99 6:03 PM ET
Sometimes quarters, like political news, lend themselves
to instant analysis. Like this Intel (INTC:Nasdaq) quarter:
"light on the top-line, better gross margins, disappointing
showing."
I know, if you are long Intel, as I am, you want to hear:
"blowout quarter, fabulous gross margins, fantastic
showing."
We didn't get it. Sure, if you work at Intel you will be
disappointed with that instant analysis. Heck, I've got
3Com (COMS:Nasdaq) guys telling me that the company
is going great guns, so everything is indeed relative.
But this Intel quarter won't do anything to dispel worries
that the personal computer industry is in some sort of
downturn. I know this game plan sounds tired and worn,
but on a selloff involving personal computer tech, I am
going to buy telco-tech and Net tech.
Nothing on this Intel call will dissuade me from taking
Cisco (CSCO:Nasdaq) on weakness Wednesday, and
nothing on this call will make me panic out of America
Online (AOL:NYSE).
How long can this trichotomy last? Pretty simple. It just
began. Give it some time. |
