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

To: Bazmataz who wrote (70196)	12/24/1998 8:58:00 AM
From: John Carragher	Respond to of 186894

Part of article from smartmoney NEW YORK (Dow Jones)--If you can't beat 'em, join 'em. That's apparently what longtime chip-stock bear Tom Kurlak has concluded about Intel (INTC). After completely missing the giant chipmaker's 78% rise this year, Merrill Lynch's highly regarded chip analyst switched course on Wednesday and - citing the tremendous popularity of the Internet - reversed a negative opinion he's had about Intel since August 1997. The stock immediately soared 5% to a new 52-week high of 125. Kurlak raised both his long-term and near-term ratings on Intel shares to accumulate from neutral, and said the company's fourth-quarter earnings could easily come in higher than his estimate of $1.03 a share. For 1999, Kurlak boosted his earnings forecast by 18% to $4.25 a share and hiked his revenue estimate by 8% to $30.35 billion. Those numbers represent 29% and 17% growth from his respective 1998 projections for earnings and revenues. For Kurlak, who didn't return phones calls, the move has to be embarrassing.