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Technology Stocks : Intel Corporation (INTC)
INTC 40.56+10.2%Nov 28 9:30 AM EST
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To: Little Gorilla who wrote (81554)5/25/1999 6:36:00 PM
From: kash johal  Read Replies (1) of 186894
 
Little Gorilla,

Re: "Also, anyone notice that INTC's PE ratio is below its growth rate?? What's that all about? It's like stocks are being sold willy nilly, for pete's sake."

I think this goes to the heart of the problem.

Significant top line growth may not materialize till later this year.

Particularly if the price war spreads to the mid range parts.

AMD is allegedly sampling K6III's at 500 Mhz and K7's up to 600Mhz range.

And an additional price cut is due in a few weeks following on this months price cuts.

And Cyrix is dumping product left and right as it exits the low end.

In that scenario it is only likely that folks might take profits.

I can see the price dropping into low 40's particularly if Q2 revenues are below expectations.

At that time it will be a great buy.

Once Cyrix gets out of the picture you should see a bang up Q4 and yr 2000.

With the larger K7 and k6-3 die AMD can only ship perhaps 6M pcs in 4th qtr.

So Intel should do very well in Q4 as they should soak up the 3M+ pcs Cyrix did in Q498.

If I owned lots of Intel I would sell some short term out of the money calls for protection.

I intend to buy in the mid 40's as longer term looks great from mid 2000 onwards.

Regards,

Kash
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