To: chuckie who wrote (71857 ) 10/13/1998 10:31:00 PM From: Mohan Marette Respond to
<Intel>PC Demand Strong."I think they were sandbagging a bit. They exited the quarter with such a huge momentum trend line that I think their estimate was conservative," said Charles Boucher, an analyst with Donaldson, Lufkin & Jenrette. He added that analysts likely will be raising their Intel earnings estimates tomorrow, giving some bounce to the stock. "Intel's stock has not been trading at a valuation that reflects its growth level," he said. David Wu, an analyst with ABN AMRO said computer makers that purchase Intel's chips continue to report that their distribution channels are pretty lean--hence demand for chips will likely continue. He said the market would not be flooded as a result. "The biggest challenge we're facing as this quarter begins is being able to produce enough parts to meet our customers needs," Intel chief financial officer Andy Bryant said in a conference call. We are pleased with our overall performance in the last quarter," said Craig R. Barrett, president and chief executive officer, in a statement. "We had growth across nearly all of our geographies and product lines, including strong microprocessor sales. In the third quarter, the PC industry recovered from its inventory problems and is benefiting from strong seasonal demand. news.com
