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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Burt Masnick who wrote (83690)	6/17/1999 11:57:00 AM
From: Maverick	Respond to of 186894

CSFB cuts 99 EPS fr 2.32 to 2.25, lowers 2Q99 to 0.53, sets target $75 NEW YORK, June 17 (Reuters) - Credit Suisse First Boston analyst Charlie Glavin on Thursday cut his estimate for Intel Corp.'s fiscal 1999 earnings per share to $2.25 from $2.32. -- In a report, he also trimmed his fiscal 2000 estimate to $2.55 from $2.65. -- The 12-month price target on the stock remains unchanged at $75, and the rating remains at buy. -- ''Intel should report in the lower end of its guidance for (second quarter 1999), roughly $0.53, owing to both lower processor ASP (average selling price) and lower unit shipments,'' Glavin said. -- ''While cost reductions and a higher gross margin percentage had mostly outweighed this effect earlier, we believe this trend and its impact will persist into'' the fourth quarter, he said. -- Analysts polled by First Call Corp., which tracks corporate earnings forecasts, had predicted second-quarter earnings of $0.54 a share. -- Intel shares slipped to 57-3/4 in pre-opening trade from a Wednesday close at 59-11/16.