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To: Calvin who wrote (106431)	3/3/1999 10:13:00 AM
From: Boplicity	Respond to of 176387

DB 03/03 9:10 [INTC] I WANT INTC TO COME OUT SAY THINGS ARE NOT SLOWING DOWN , GREGORY H. MULLINEAUX

To: Calvin who wrote (106431)	3/3/1999 10:17:00 AM
From: Mohan Marette	Respond to of 176387

<Intel>S&P Reiterates Buy on Intel Shares-PC demand SOLID. Wednesday March 03, 1999 (08:15 am ET) NEW YORK, Mar. 03 (Standard & Poor's) - S&P reiterated its (buy) recommendation on shares of Intel Corp (INTC). Analyst Megan Graham-Hackett says the stock's selloff over the past several days is unjustified. She feels that worries over PC demand are overdone and are based on very little factual evidence. She says Q1 PC sales have witnessed mostly typical seasonal trends, with some potential weakness in the latter part of January, as INTC readies the release of its next generation Pentium III chip. She notes that the company told her that it has not changed sales guidance (down 5% vs. Q4 1998). She adds that other sources indicate that underlying PC demand remains solid, with 14%-15% unit growth still seen for 1999. Graham-Hackett believes that INTC's recent aggressive moves on chip prices at the low end of the PC segment are exactly the right strategy, since the company can leverage its recently reduced cost structure. She maintains her $4.65 1999 EPS forecast, and says that trading at 24 times that estimate, INTC shares are undervalued relative to EPS growth of 25%-30% over the next two years and to their historical price-to-earnings range.