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

To: Amy J who wrote (91667)	11/4/1999 7:54:00 AM
From: GVTucker	Read Replies (1) \| Respond to of 186894

Amy, RE: Why didn't one of the Analysts ask, "which competitors?", "how much competition?", "how bad?" This brings up a little understood part of the whole conference call game. If an analyst notes a particular hole in financial statements, or notes a subtle but also glaring point in management's statements, or, as you note, management brings up a point that could perhaps provide an investment opportunity, then that analyst decidedly will not ask a question pertaining to that subject. Think about it--if you thought that you spotted something that others might not see, you certainly wouldn't want everyone else to see that before you had a chance to take a position that allowed you to profit first. After the conference call, you might call the company in private to confirm what you think you see. Then you take on the position. On the next conference call, that's when you ask the question (if you haven't published a report on that factor already). Thus analyst questions on conference calls usually fall into one of two categories: 1) A leading question to reinforce something that the analyst has already reported to clients. 2) A question that is made only so that everyone else on the conference call knows that the analyst is still around and capable of asking semi-intelligent questions.