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

To: Tenchusatsu who wrote (93163)	11/30/1999 10:11:00 AM
From: Robert Douglas	Read Replies (2) \| Respond to of 186894

Ten, Thought you might be interested in Bear Stearn's take on the rise of the almighty Athlon. <<<Intel Corp. (INTC - $78'5/16) BUY Target: $100 Market Cap: $263.7 Billion Index: S&P 500 Charles Boucher - Semiconductor Devices Still Skeptical about AMD's Athlon Chip AMD released its 750 mhz Athlon chip yesterday, which may cause potential competitive pressure on Intel's Pentium III line. We are still skeptical that AMD will be able to sustain Athlon's speed and manufacturing performance. If AMD is indeed successful in ramping up production of their Athlon chip using their advanced .18 micron process (from .25), we think it could cause competitive pressure on Intel and result in Pentium III price declines, which would lead to us lowering our EPS estimates. But this is a huge "if." We are not willing to bet that AMD is suddenly able to get everything seamlessly right in transitioning to the .18 micron process -- a transition that everyone in the industry has had trouble with (including Intel and Micron). AMD has a long history of manufacturing missteps and poor execution. Bottom Line: We maintain our Buy on INTC. We think the stock will continue to be under pressure due to the possible success of the Athlon chip, but we would view this as buying opportunities. In the long run we think Intel will win out over AMD in the processor speed race. Bear Stearns: 12/1999E $2.26; Q4 $0.63 12/2000E $2.70 Consensus: 12/1999E $2.26; Q4 $0.63 12/2000E $2.67 Consensus Rating: 1.7 (last updated 11/29)>>>