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To: TechHunter who wrote (22282)	6/18/1999 9:24:00 AM
From: Ian@SI	Read Replies (1) \| Respond to of 25960

Last triple witching Friday, Morgan spread rumours that IBM wasn't going to make its earnings. This triple witching Friday, they're picking on INTC. What this means to me is: 1. Morgan Stanley isn't to be trusted during triple witching week. 2. INTC is undergoing the normal yield curve improvement which is seen when innovative new processes are first introduced. If INTC were to come out and say that the coppermine chip will materially affect earnings negatively for the foreseeable future, then I'd start wondering what the process problems are. This, to me, sounds like a normal glitch when going from the R&D environment of the pilot line to the fab floor. Yes, it's serious at the moment. But the process will be improved; perhaps sooner than anticipated; and Morgan Stanley will again look like turkeys if anyone remembers their asinine calls like the IBM one. And I'll do my best to help remind people that Morgan Stanley just might lack a bit of credibility from time to time. ;-) Ian.

To: TechHunter who wrote (22282)	6/18/1999 9:38:00 AM
From: Ian@SI	Read Replies (1) \| Respond to of 25960

Reply # 2: INTC's response... June 18, 1999 Intel Announces It Will Delay Chip Launch by Two Months By a WALL STREET JOURNAL Staff Reporter SANTA CLARA, Calif. -- Intel Corp. said it has delayed the launch of one of its new chips by two months, but it said the delay won't affect earnings, in part because the company has accelerated the launch of a different chip. News of the delay prompted Credit Suisse First Boston to downgrade its 1999 earnings estimates to $2.25 a diluted share from $2.32, and it cut estimates of 2000 earnings to $2.55 a share from $2.72. Intel shares fell $1.6875 to $58 in trading on the Nasdaq Stock Market Thursday. Company Profile: Intel Tom Waldrop, a spokesman for the chip maker, said the company delayed by two months its code-named Coppermine project, the creation of a 600-megahertz version of its Pentium III chip made in a 0.18 micron manufacturing process. While Mr. Waldrop said the chip will appear sometime in the 1999 second half, analysts estimate the Coppermine chips will now appear in November instead of September. Intel will still unveil a 600-megahertz Pentium III chip ahead of schedule because it will make the chip with a 0.25 micron manufacturing process instead, Mr. Waldrop said. Analysts said a 0.25 micron chip will likely cost more, because a 0.18 micron chip would have been smaller and used less material. We'll probably never find out what the process problems were. But then we never do. It's just business as usual. IMHO, Ian.