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

To: John F. Dowd who wrote (159556)	2/21/2002 8:58:43 AM
From: herb will	Read Replies (1) \| Respond to of 186894

John re B of A lowers INTC estimates According to analyst Douglas Lee,“He believes the current quarter is tracking as expected, but the June quarter will exhibit "normal seasonality," which has not currently been factored into consensus analyst expectations.” Huh? www2.marketwatch.com; "Intel slips as BofA cuts earns est. (INTC) By Tomi Kilgore Shares of chip sector bellwether Intel (INTC) are losing 89 cents, or 2.8 percent, to $30.55 after Analyst Douglas Lee at Banc of America lowered his 2002 earnings estimates for the company, citing indications of weaker near-term demand. He cut his 2002 EPS forecast to 65 cents from 69 cents, but left his 2003 estimate unchanged at $1.07. He said recent checks with motherboard vendors and channel participants in Taiwan suggested that processor supply began to loosen towards the end of January. "The possibility of more plentiful supply in the months ahead suggests that processor pricing could conceivably come under some pressure," Lee said in a note to clients. He believes the current quarter is tracking as expected, but the June quarter will exhibit "normal seasonality," which has not currently been factored into consensus analyst expectations." Herb