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

To: Tony Viola who wrote (92880)	11/19/1999 8:17:00 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 186894

Friday November 19, 5:12 pm Eastern Time RESEARCH ALERT-Intel price target raised CHICAGO, Nov 19 (Reuters) - ABN AMRO said Friday it raised its price target on Intel Corp. to $85 per share from $80, saying the world's biggest chip company may report better-than-expected fourth-quarter earnings. -- Analyst David Wu also raised his fourth quarter earnings estimate for Intel to 65 cents per share from 62 cents. -- ``It now appears that Intel is positioned to surprise on the upside for a change when its results are reported in January 2000, relative to current First Call consensus of 63 cents,' Wu said. He noted that Intel missed the consensus estimate by 2 cents a share in each of the last two quarters, but said that situation was likely to reverse in the fourth quarter. -- ``Clearly PC demand exceeds supply of X86 microprocessors in the fourth quarter since both Intel and Advanced Micro Devices are reporting sold-out conditions for their respective families of low-end and high-end processors,' Wu said in a research note. ``Apparently, both Asia/Pacific and Japan are where the upside surprises come from.' -- ``With demand particularly strong for the higher ASP Pentium II/III desktop and mobile Pentiums, it should benefit the (fourth quarter) gross margin and revenues,' Wu said. ``We have increased our gross margin assumption for the quarter from 61.5 percent to 62.5 percent and revenues from $8.0 billion to $8.1 billion and raised our EPS estimate from $0.62 to $0.65.' -- Shares in Intel closed up 1-3/8 at 79-7/8 on the Nasdaq.