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

To: greenspirit who wrote (45404)	1/14/1998 12:55:00 AM
From: greenspirit	Respond to of 186894

All, Article...Intel blows away Q4 estimates By Larry Barrett, ZD Inter@Ctive Investor 01.13.98 6:15 pm ET Intel Corp. (INTC) shattered even the most optimistic earnings projections in its fourth quarter, posting a profit of $1.7 billion, or 98 cents per share, on record sales of $6.5 billion. First Call consensus expected the world's largest chip maker would report a profit of 90 cents per share in the quarter. The upshot of Tuesday's earnings announcement, analysts said, will be felt in Wednesday trading as investors who lost faith in technology stocks in the past three months might be inclined to get back on the bandwagon. In a nutshell, it appears that surprisingly good sales in Europe are helping to offset the economic woes in Asia. "Well, last quarter Intel's earnings were merely normal, not spectacular," said Jack Geragthy, an analyst at CS First Boston. "These numbers are more impressive. This might give those who've gotten away from techs a chance to review their position." Intel officials credited the rapid market acceptance of the Pentium II processor and MMX-enhanced Pentium lines for the improved earnings and revenues. "In 1997 our factories ramped new processing and packaging technologies at an unprecedented rate," said Andy Grove, Intel's chairman and chief executive officer. "We introduced two major new microprocessors, the Pentium processor with MMX technology and the Pentium II processor, essentially replacing our previous product line." For the year, Intel's sales were up 20 percent to $25.1 billion and earnings per share jumped 33 percent to $3.87. In the year-ago quarter, Intel posted a profit of $1.9 billion, or $1.07 per share, on revenues of more than $6.4 billion. "Well, I heard whisper numbers ranging up to near $1 per share," said Bruce Raabe, an analyst at Collins & Co. "But you never know what the story is going to be. I also heard earnings could be as low as 85 cents per share." Company officials said they expect earnings and sales in the first quarter of 1998 will be flat. Intel's stock gained $1.25 per share to $76.88 prior to the earnings announcement. _____________________________________________________________________ It will be interesting to see which view Wall Street takes tommorrow. Michael