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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (30953)	2/12/2001 7:16:56 PM
From: Dealer	Respond to of 65232

INTC--Intel says "no change to guidance" for 1st-qtr (UPDATE: Adds details on inventories starting in fifth paragraph) SAN FRANCISCO, Feb 12 (Reuters) - Intel Corp. (NasdaqNM:INTC - news) Executive Vice President Paul Otellini said on Monday that there was no change to the guidance for the first quarter that the world's largest chipmaker issued on Jan. 16 when it reported fourth quarter results. ``The pattern I've seen in the last six weeks is consistent with the guidance -- no more, no less,'' Otellini said at the Robertson Stephens technology investment conference here. Intel has projected that its first-quarter sales would fall about 15 percent from the $8.7 billion recorded in the fourth quarter because of the slowing global economy. Analysts on average expect Intel to post operating earnings of 21 cents per share on revenues of $7.7 billion in the first quarter, according to First Call/Thomson Financial. Intel shares ended regular trade Monday on Nasdaq up 3 percent to $34-9/16. Otellini, a 27-year veteran of the 33-year-old Santa Clara, Calif.-based company also said that it appears that its biggest customers, such as Hewlett-Packard Co. (NYSE:HWP - news), Dell Computer Corp. (NasdaqNM:DELL - news) and others are working through their inventories of already-built computer systems. ``My sense is we're seeing them work through that now in the quarter,'' Otellini said of already-built systems that are in distribution channels and on PC makers' shelves. Intel and other high-tech companies have seen their shares sink dramatically this year in light of slower-than-expected sales of personal computers and handsets and a slowing economy. But several semiconductor companies have, while warning of slower growth in the first half of the year, said that they expect the second half of 2001 to be much improved. The second half of the year, particularly the fourth quarter, is typically the strongest for the personal computer industry.