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To: patrick tang who wrote (19264)	7/13/1999 5:00:00 PM
From: shane forbes	Respond to of 25814

I don't track VTSS too closely but VTSS's P/E was 90 - INTC's is 30 or so. There is enough here to explain the VTSS drop. Another thing for LSI is that their diluted share count will go up because of the rise in the share price. How much I don't know... As to the LSI reaction it entirely depends on what the results are. It is not true that just because A, B, and C drop after earnings that D-Z should do the same. This kind of thinking pervades the modern day 'investor' whose best guess is based on momentum and trends and not much else. But we shall see... Of course, LSI's reaction also depends on what price LSI trades at the day before earnings (duh!) and there are several days left and much can change... Again we shall see...

To: patrick tang who wrote (19264)	7/13/1999 5:10:00 PM
From: Tony Viola	Read Replies (2) \| Respond to of 25814

Patrick, the best part so far about Intel's report is their revised gross margins number for 1999: In the Q1 earnings report, Intel predicted Q2 GM to be 59%, same as Q1, but for the entire year, they predicted GM to be 57% +/- a few points. That made H299 GMs have to be about 55%. Now, Intel is saying 60% for the entire year, requiring about 61% for H299. That is outstanding news, and if the stock rebounded in after hours, that's why. ** Gross margin percentage in the third quarter of 1999 is expected to be up slightly from 59 percent in the second quarter. Intel's gross margin expectation for the full year 1999 is now 60 percent, plus or minus a few points, up from prior guidance of 57 percent, plus or minus a few points. Tony