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To: Paul Engel who wrote (1794)	10/29/1997 1:16:00 AM
From: Petz	Read Replies (2) \| Respond to of 6843

Paul, re: Intel REDUCING THEIR COSTS almost as fast as they are cutting prices 1. Intel didn't cut Pentium II prices as much last quarter 2. At 20-25% reduction per quarter, Intel's yield would have to be increasing by 150% a year to stay even. ...NOT Intel has predicted Q4 revenue will be flat to slightly up as will be profits. Last 2 quarters, both are flat to slightly down. If Intel risks this happening again, its three strikes, yer out! I see no reason why the market should reward them with a PE higher than 15 for a company which is not growing revenues or sales. They will probably bury some costs in a writeoff to make themselves appear to still be a growth company. Petz