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

To: OLDTRADER who wrote (172474)	1/13/2003 8:40:14 AM
From: matt dillabough	Read Replies (1) \| Respond to of 186894

INTC: Raise EPS Estimates, Price Target Slightly 2H (In-line, High Risk) Mkt Cap: $116,923.0 mil. January 13, 2003 SUMMARY * We are raising our Q4 outlook from EPS of $0.14 on SEMICONDUCTORS revenues of $6.95 billion (+7%) to $0.15 on $7.1 Jonathan Joseph, CFA billion (+9%), slightly above guidance, and 2003 from $0.60 to $0.65; consensus EPS are $0.14 and $0.63, respectively. Ramesh Misra, Ph.D * Industry data and our own channel surveys suggest our previous assumption of flat Q3/Q4 pricing may have been conservative, and we are raising our Q4 price estimate from $150 to $155 (+3%); '03 from $146 to $153 (flat). We continue to estimate 7% qoq unit growth in Q4 and 9% for this year. * Our surveys suggest both Europe and Asia were stronger, while the U.S. was in-line. We believe mix may have favored mobiles and servers, helping prices. We continue to look for Q1 revenue guidance of seasonally down 5%, or so. * We are raising our upside price target on INTC from $18 to $20 but retain our 2H rating. We maintain a Marketweight rating on the Semiconductor industry.