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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Kevin K. Spurway who wrote (49069)	2/9/1999 2:33:00 PM
From: Rob C.	Respond to of 1571806

FWIW, Intel news... NEW YORK, Feb 9 (Reuters) - Intel Corp. <INTC.O> Chief Financial Officer Andy Bryant reiterated Tuesday the previous financial guidance it had given for the current quarter, following the announcement on Monday of substantial price cuts in the low end of its product line. Speaking to an audience of more than 500 money managers attending a session of the Goldman Sachs Technology Symposium here, Bryant said the company's business remains on track and the price cuts of up to 24 percent on its low-end Celeron computer chips had been calculated in the company's original guidance. "There's nothing new here than what we gave as revenue guidance" during the company's fourth-quarter conference call with analysts in mid-January, Bryant said. Specifically, the Intel executive said first quarter revenues were expected to be down compared with the fourth quarter due to the seasonal strength of holiday sales. He said gross margins would be slightly down and expenses would fall by 24 percent without the weight of hefty holiday marketing costs. Bryant said the guidance given last month was based on its plans to aggressively gain market share from rival chip makers at the low end of the personal computer market. Intel's price cuts and an earnings warnings by rival chipmaker Advanced Micro Devices Inc. <AMD.N> last week have raised fears among investors of a growing price war that will dampen profits across the industry. Intel stock, which was trading down roughly five points at midday, recovered somewhat to trade on the Nasdaq stock exchange at 128-1/8, off 3-7/8. 859-1700))