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Technology Stocks : Rambus (RMBS) - Eagle or Penguin -- Ignore unavailable to you. Want to Upgrade?

To: Drake who wrote (16407)	2/22/1999 6:54:00 PM
From: Ibexx	Read Replies (2) \| Respond to of 93625

Drake, It's easy to say this afterwards. However, there is always an element of uncertainty, and I sure wouldn't want anyone to work on my guilt if things don't turn out the way they should. :-) Regards, Ibexx

To: Drake who wrote (16407)	2/22/1999 6:56:00 PM
From: jopawa	Respond to of 93625

Rambus, AMD set chip stocks on fire By Tiare Rath, CBS MarketWatch Last Update: 4:11 PM ET Feb 22, 1999 Tech Report NewsWatch NEW YORK (CBS.MW) -- Advanced Micro Devices and Rambus led a rally among semiconductor stocks Monday, while Hewlett-Packard helped spur buying in computer hardware shares. The Philadelphia Semiconductor Index launched 5.3 percent as Rambus (RMBS) jumped 9 9/16 to 80 9/16. Rambus was upgraded to "buy" from "long-term attractive" by BancBoston Robertson Stephens. Analyst Dan Niles expects Intel to announce Tuesday dates for its Camino chipsets. Those chips use Rambus' memory technology. "With a firm schedule, we feel confident that the stock can appreciate consistently going forward and are setting a $90 price target," Niles said. In addition, Warburg Dillon Read started the high-speed chip maker at a "strong buy," calling the company's technology "a revolutionary approach to solve the growing memory bandwidth gap." The investment bank was also impressed that the company's technology is used by 8 of the top ten chip companies. The analyst, Greg Mischou, said he expects the stock to hit $150 a share over the next 12 to 18 months. Friday, an analyst said Rambus' key partnership with Intel (INTC) was on solid ground. Additionally, the company is scheduled to address money managers Tuesday at the BancBoston Robertson Stephens technology conference in San Francisco. See related story and preview of tech conference. Advanced Micro Devices (AMD) -- its shares slaughtered after warning it could post a loss in its first quarter -- saw its stock rally amid the release of its K6-III processor that uses 3DNow! technology in computers. Shares gained 1 9/16 to 19 3/16. Gateway Computer (GTW) also said it will use Advanced Micro's chips in its computers in addition to components from AMD's rival Intel. Gateway said computers using AMD microprocessors should be shipped as early as the second quarter this year. Gateway helped a rally among computer stocks after Piper Jaffray raised its first-quarter earnings estimate for computer maker to 90 cents a share from 59 cents, upgraded the stock to a "strong buy" from "buy" and raised his 12-month price target to $95-$100 from $70. See full story. The stock rose 6 5/16 to 79 3/16. The Goldman Sachs Computer Hardware Index, of which Gateway is a member, jumped 4.8 percent. Hewlett-Packard (HWP) powered ahead 5 9/16 to 73 7/8 after a slew of product announcements, including a line of HP Brio personal computers priced as low as $699. The computers are targeted toward small- to medium-sized businesses, as is a small business Web page H-P set up with Yahoo! (YHOO). Sun Microsystems (SUNW) rose 7 7/8 to 104 5/16, while Dell Computer (DELL) rallied 4 3/4 to 84 7/8. On the chip side, Intel (INTC) rose 4 3/4 to 132 13/16, while Texas Instruments (TXN) rose 5 7/8 to 98 7/8. Texas Instruments was highlighted in a New York Times story about emerging technology that will be used in digital movie projectors. LSI Logic's (LSI) stock rose 15/16 to 28 3/16. The company is buying chip-maker SEEQ Technology (SEEQ). Its stock gained 17/32, or 26 percent, to 2 9/16. See full story. Chip-equipment maker Applied Materials (AMAT) was the only downer of the group, dropping 1/2 to 68 3/16. KLA-Tencor (KLAC) rose 2 1/8 to 61 7/8. Both companies will present at the BancBoston Robertson Stephens conference Thursday. Tiare Rath is a reporter for CBS MarketWatch