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To: Jules B. Garfunkel who wrote (836)	1/20/1998 12:30:00 PM
From: greenspirit	Read Replies (1) \| Respond to of 990

Welcome Back Jules, I hope you had an enjoyable time in the old country. Article...333 MHz Pentium II Due January 26... January 20, 1998 SANTA CLARA, CALIFORNIA, U.S.A., Newsbytes via Individual Inc. : Sources close to Intel [NASDAQ:INTC] claim theworld's largest chipmaker will announce a new series of Pentium II microprocessors, currently code-named "Deschutes, " on January 26. The first model will run at 333 megahertz (MHz) and herald a year of faster Pentium II microprocessors which will reach 450 MHz before the end of 1998. Intel would not confirm or deny the expected announcement, but company spokesperson, Manny Vara, said, "The Deschutes series represents Pentium II microprocessors based on .25 micron technology. This is important for a number of reasons. It means we get more chips from less silicon and these new thinner wafers are essential to increasing processor speeds." Vara also said the new line is key to bringing Pentium II technology to notebook computers. The company has not officially announced a date to debut Pentium II-based notebooks, but, according to sources, power-users can plan on having a P II notebook before the end of 1998. The first series of Pentium II microprocessors, code-named Klamath, were announced more than a year ago. Today, desktop multimedia systems powered by Intel's new PII "cartridge" design are available for less than $1500 with monitor. Vara says Deschutes "will continue to push prices down." He confirmed Intel plans to deliver Pentium II chips running at 350, 400 and 450 MHz over the course of 1998. A number of original equipment manufacturers are expected join Intel to announce Pentium II, 333 MHz servers and desktop computers on January 26. ______________________________________________________________________ Regards, Michael

To: Jules B. Garfunkel who wrote (836)	1/20/1998 7:26:00 PM
From: Harry Landsiedel	Read Replies (3) \| Respond to of 990

Jules B. Garfunkel. Re: "sell side brokerage analysts seem to be measuring the price evaluation of IBM and INTC using two different measuring sticks." I agree with you and think you have hit on something very important here. I believe that analysts with a thin knowledge of technology put IBM in the "blue chip" category along with GE, Merck, etc. It is a SAFE technology company with a long heritage of stable (albeit turbulent recently) revenues and earnings. Consequently, they cut IBM more slack, and think its PE is low when compared to GE and Merck. They have convinced themselves that IBM is different than Intel or CPQ and when the facts intrude construct ever more complicated defenses. As we know, this can't last. In fact this earnings season may force these analysts to see reality, when, after all is said and done, they must compare Intel's excellent results with mediocre IBM ones. This will be even more difficult for these analysts to swallow if CPQ has an excellent quarter and does not issue the types of warnings about Asia that IBM did. (I suspect CPQ will not 'cause their exposure to Asia is a lot less.) I believe that MOST analysts DON'T GET IT, in terms of the true paradigm shift that is occurring before their eyes. The Wintel group continues to gain strength, from the BOTTOM up (e.g. the consumer pull). Wall St. still believes in the TOP DOWN approach, pioneered by IBM, which is to try to dominate sales to the IS groups. The lack of any positive reaction to Merced and the DSL announcement today is further proof of ignoring events which do not fit with their preconceived notions of reality. I have taken advantage of this situation by buying more Intel and CPQ. and expect to be rewarded sometime this year. HL