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To: Terry Maloney who wrote (243861)6/4/2003 9:15:29 AM
From: Mike da bear  Read Replies (1) | Respond to of 436258
 
JP Morgan reits Underweight on Intel (INTC) 21.10: JP Morgan reiterates their Underweight rating on INTC in advance of the co's mid-qtr update on Thursday; although firm
expects INTC to maintain its Q2 guidance during the call, they believe the co will have to lower guidance at some point given the extremely back-end loaded nature of the qtr, inventory
build, SARS-related weakness, and weaker-than-expected motherboard order rates; in addition, the stock remains overvalued at about 34x their CY04 EPS est of $0.63 and a PEG ratio
of 5, well above its 1990-98 range of 10-25x forward 12-month EPS.

I see in pre-market Intel plunged 2 cents on the news to $21.08!

mdb



To: Terry Maloney who wrote (243861)6/4/2003 9:35:16 AM
From: MythMan  Read Replies (2) | Respond to of 436258
 
didn't take long to see green.