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To: Richard Forsythe who wrote (903)	10/14/1998 6:19:00 PM
From: Jules B. Garfunkel	Respond to of 990

Richard, This was the common theme that I heard all day today, for the reason Intel was down. However, if what Peck wrote is true, and investors are truly worried about demand for PCs not being sustainable, then why were the most of the PC box makers, ( X DELL down 1/4 and HWP) up big most of the day. I read Drew Peck's and Tom Kurlak's reports today. Both seemed to have writen before Intel's earnings were released, It looked to me as if all they did was increase their earnings estimates for the full year, given Intel's better than anticipated number, but left their pre conceived conclusions in tacked. In fact, it is my opinion, that Kurlak once again completely ignored Intel's response to his specific question from last night CC. The answer that Intel gave to his question was that demand had become very strong in September, and continued to be very strong into October. I saw nothing in Kurlak's report, or Peck's, that acknowledged that answer. I don't know what their agendas are, but it is not impartial analysis. Jules