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To: M. Frank Greiffenstein who wrote (21485)	10/13/1998 8:54:00 PM
From: Techie	Read Replies (1) \| Respond to of 164684

>>Any chance for a rally will come after 2:00 PM when INTC CC takes place. I'm sure you meant "when AAPL's".... btw, the INTC conf. call is at their web site. intel.audionet.com

To: M. Frank Greiffenstein who wrote (21485)	10/13/1998 9:08:00 PM
From: Glenn D. Rudolph	Respond to of 164684

Any chance for a rally will come after 2:00 PM when INTC CC takes place. INTC conference call is tomorrow after 2???? Glenn

To: M. Frank Greiffenstein who wrote (21485)	10/13/1998 11:28:00 PM
From: Rob S.	Respond to of 164684

As much of the cc as I caught sounded fairly good but not spectacular by any means. Unit sales appear to be stronger than expected but margins are expected to be flat which is down from the slight improvement that was indicated at last quarter's cc. Overall it doesn't speak badly about the prospects for growth of the internet in the coming quarters but does indicate that pricing pressures will remain accute even though inventories are at very low levels and Intel is having a hard time keeping up with demand in many products. There were several congratulations for a good quarter from the analysts but that doesn't necessarily mean that they will change their current outlooks on INTC or the tech sector to more positive. As you pointed out, a lot of the expectations for Intel as the leader of the semis and PC component marketplace are already factored in. What remains to be seen is just how much Intel's continued robustness is taken as an indicator that the techs are generally in better shape than is currently reflected in beaten down prices. There is also a liquidty crisis that continues to drain dollars away from equities regardless of how attractive they may appear. What is worth noting is that corporations and consumer demand for PC, workstations and servers as the needs of the connected world outweigh other concerns. In this climate, even good news may not have that positive of an effect. On the broader scale, I think that awareness has grown and many of the steps neded to address world-wide monetary problems have ben initiated. as usual, govenrments and individuals have failed to react until it is almost too late to avert a deepening global recession. The good news is that attitudes among the worlds leadership has changed and steps are being taken. The bad news is that the current events and measures that will assure long-term stability and growth will have short-term ramifications that are painfull to many economies and companies. Sales & profits will continue to shrink. However, the semiconductor industry was one of the first to be effected by the loose monetary policies that have screwed things up so badly. The over capacity of the past several years has been crashing down upon the Asian and other over-supply whore economies. The Asians expansionist and war-like market share strategies (remind you of any other questionable "profit from future market-share tactics"?) have resulted in halting of construction, shut-downs and sell-offs or partnering of many fabs that will lead to a better supply/demand situation by the end of next year. I expect a great 1st quarter 99 rally as long as the markets stay depressed until then - which is likely IMO. Atmel and a few other semis have had better than expected results but only raised modestly better expectations for the coming two quarters. Probably no big rally tomorrow and the rest of the week but if there is it will be a time to take profits on long positions and set some more hooks for shorts.