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

To: Joseph Pareti who wrote (155664)	1/16/2002 6:58:27 AM
From: puborectalis	Read Replies (1) \| Respond to of 186894

Intel upped at CSFB to buy on capex cuts (INTC) By Emily Church Credit Suisse First Boston is upgrading its recommendation on Intel Corp. (INTC) to a buy after the chipmaker posted better than expected fourth quarter sales and earnings, but said first quarter revenue would come in down 9 percent to flat from the fourth. "The lower capex budget means lower depreciation, which also means lower-than-anticipated costs in INTC's manufacturing structure, thus providing INTC with room for margin expansion," CSFB's Charlie Glavin tells clients. "We stress to investors that several factors need to come into play, including the timing and execution by INTC on its 300mm conversion and the timing of the corporate PC upgrade."