Hi Burt,
The analyst for Cowen is Drew Peck. As we know, Drew has looked for anything negative to write on Intel, or anything positive on AMD, for over five years now. I think he does this to justify the stance he took more than five years ago. At that time he had one good call on weakness in the semiconductor industry, and continues to milk that call for all its worth.
Burt, despite reading your post on Cowen's report at least three times, I don't understand what it is saying. Although, I often find myself in disagreement with Drew, I guess this report looses something in the translation. (i.e. everything)(g). What is he talking about?
As per John's suggestion, I called Intel's Investor Relations Department today. They confirmed to me that nothing has changed at Intel since their last quarterly guidance report of flat to slightly down earnings for Q2. Recent ASP price reductions were previously planned and nothing has changed. As to why the decline in Intel's price in recent days...she had no idea. Although, she did say that there was a false rumor that the terms of the Level One merger agreement might change, but this, she said, was not true.
BTW John, the reason for the mix up in my not getting faxes from Intel, was that my area code had changed six months ago and they were still using my old area code. I herein apologize to the Intel's IR department, but I still feel, they were much better off when you were there.
Regards,
Jules |
