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To: pat mudge who wrote (628)	3/8/2001 3:58:11 PM
From: pass pass	Respond to of 3294

Message 15468750 is this the light at the end of the dark fiber channel?

To: pat mudge who wrote (628)	3/8/2001 8:04:26 PM
From: FR1	Respond to of 3294

Intel warns tonight - I don't understand why INTC did not warn hard enough last time so they did not have to do this. Why not do it like TQNT - they took estimates from .29 down to .14 and said it will be that way until Q4. This leaves nothing but upside surprises in the future. biz.yahoo.com Thursday March 8, 5:50 pm Eastern Time Intel Warns of Lower Sales By Duncan Martell SAN FRANCISCO (Reuters) - No. 1 semiconductor maker Intel Corp. (NasdaqNM:INTC - news) on Thursday warned that its first-quarter sales would fall as much as 25 percent from the previous quarter and said it would cut 5,000 jobs, or about 5.7 percent of its workforce, as the slowdown in PC demand has spread to networking, communications and server computers. Intel said it now expects its revenue for the first quarter to be down about 25 percent from fourth-quarter revenue of $8.7 billion, far lower than its previous estimate that first quarter revenue would be down around 15 percent. That would put its revenues at about $6.5 billion -- well short of current analyst expectations for revenues of about $7.4 billion, according to First Call/Thomson Financial. Intel also cut its outlook for gross margin percentage for the first quarter to 51 percent, plus or minus a couple of points, from its the previous expectation of around 58 percent, primarily due to lower revenue. Intel's grim news is yet another sales warning, with the string beginning in September 2000. The 33-year-old chipmaker, considered a high-tech bellwether, joins a host of other U.S.-based chip companies that have said the first half would disappoint analyst and investor expectations. The 5,000 job cuts, which will come over the next nine months, are related to Intel's earlier announced plan to trim its workforce in light of a slowing U.S. economy and weak demand for personal computers. Intel, Santa Clara, Calif., commands more than 80 percent of the market for microprocessors, the brains of PCs. In trading after the close, Intel stock slipped to $31-1/4 from its close of $33-1/4. In regular trade, Intel shares rose 5/16. The stock has plunged from a record, split-adjusted $75.81 reached Aug. 28, 2000. Intel also maintained planned capital spending of about $7.5 billion this year and research and development spending of about $4.2 billion. Intel Chairman Andrew Grove said on a Lehman Bros conference call on Tuesday that one of his regrets in the past had been paring back on capital spending and research and development in tight economic times, leaving it unable to respond quickly when demand rebounded.