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

To: Tenchusatsu who wrote (139032)	7/11/2001 12:09:57 AM
From: Joe NYC	Read Replies (1) \| Respond to of 186894

T. And I don't know why Intel should have to reveal just about everything. A lot of people on this very thread are trying to arrive at valuation of Intel based on the current and future sales of the server division. But they don't have a clue, what percentage of Intel revenue servers represent, what the trend in server revenue is. How can they make even remotely correct decision based on no information from Intel? What harm could revealing this information do? I guess you can play several thousand dollars to buy some of the market research repots, but that's not what a typical poster on this thread will do. The competitors of Intel do buy the market research reports, and have their own ways to obtain the information, so hiding the information from public (which is what Intel is doing) is not going to deprive them of anything. I see no gainers, only losers from this policy and the losers are you and the rest of the posters on this thread. Joe

To: Tenchusatsu who wrote (139032)	7/11/2001 12:41:37 AM
From: Paul Engel	Respond to of 186894

Ten & Intel Investors - Jonathan Joseph SSB - Earnings Preview for Intel. Copyright Salamon Smith Barney !! INVESTMENT OVERVIEW We expect the June quarter to come in line with recent guidance. In early June, the company reiterated its guidance that revenues would be slightly below the mid-point of the $6.2-$6.8 billion range, which would be about $6.4 billion. On the call, the company mentioned that both April and May showed virtually perfect seasonal patterns relative to 10 years of history. We are therefore comfortable with our revenue estimate of $6.35 billion (down 5% qoq), which is based on a unit estimate in the mid-26 million range, up from slightly less than 26 million in Q1, and average prices in the high $150s, down from the low-170s in Q1. We are forecasting Q2 gross margins of 49%, in line with guidance. New products show promise in 2H New products will be important to drive units and keep prices from slipping further in the second half. We were encouraged to hear that the Brookdale chipset is being pulled into July, and anticipate Tualatin (0.13-micron shrink of PIII) will begin shipping in the new quarter. The trade press recently reported that Northwood, the 0.13-micron version of the P4, has begun to sample and will ship in volume by the end of the year, which we see as a plus. We are also encouraged about the reception that Intel’s 64 bit server-class Itanium processor is getting from server manufacturers. Recently, Compaq decided to shift its longer term server strategy from one that was based on its Alpha line of processors, to one that is based on the Itanium instead. While Itanium volumes will remain modest, and will have limited impact on Intel’s bottom line, it will allow Intel to establish the standard for backend servers. Outlook for Q3 should be “flat to up slightly.” This is a tough environment for all players, but we expect Intel to hold to its claim that 2H will be higher than 1H, though perhaps only by a modest amount. We get the sense that Q3 orders have come in solidly enough that allowing modest turns in the 10% range, the company could see a 3-5% sequential increase in unit shipments, in line with our current model, on reasonably flat pricing. We are expecting pricing to be flat, or perhaps slightly down based on better mix favoring more P4s, new PIII-Tualatins, a modest rebound in Xeons, and the first Itaniums to hit the revenue line. Overall, gross margins should remain flat in the 49% range, though margins seem to be the one ratio difficult to call given the many moving parts. We expect the company to reiterate its $7.5 billion capital spending plan for the year.