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Strategies & Market Trends : AMIGOS INVITATIONAL YEEHAW PORTFOLIO -- Ignore unavailable to you. Want to Upgrade?

To: j g cordes who wrote (463)	6/18/1999 10:18:00 AM
From: Sergio H	Respond to of 1316

RESEARCH ALERT-Morgan Stanley cuts Intel (NASDAQ:INTC) Reuters, Friday, June 18, 1999 at 09:36 NEW YORK, June 18 (Reuters) - Morgan Stanley analyst Mark Edelstone cut his rating on Intel Corp., the world's biggest maker of semiconductor chips, to market outperform from strong buy, Morgan Stanley said on Friday . -- Edelstone cut his earnings per share estimates to $2.25 a share from $2.35 for 1999 and to $2.55 from $2.60 for 2000. -- "Based on potential earnings and competitive risks that Mark will cite from his discussions with Intel management and industry contacts, it appears that technical issues will cause the company to delay introduction of 0.18-micron versions of its Pentium III microprocessors (MPUs)," the company said in a brief research note. -- "This is likely to lead to a lower-than-expected average selling price for Intel's overall MPU portfolio. Still, Mark believes that Intel remains undervalued," the firm said. -- Shares closed on Thursday at 58.