To: stock bull who wrote (75269 ) 3/3/1999 3:49:00 PM From: Joey Smith Read Replies (1) | Respond to of 186894
ALL, Dan Niles (who correctly predicted the Dell revenue shortfall) is bullish on Intel. Let's hope he is right once again... joey Intel, Texas Instruments boost chips By Tiare Rath, CBS MarketWatch Last Update: 12:42 PM ET Mar 3, 1999 Tech Report NewsWatch NEW YORK (CBS.MW) -- Semiconductor stocks found strength in Intel and Texas Instruments Wednesday, turning around ugly losses from earlier in the week. The Philadelphia Semiconductor Index gained 1.8 percent early Wednesday. BancBoston Robertson Stephens hardware analyst Daniel Niles released positive research notes on chip leaders Intel (INTC) and Texas Instruments (TXN), helping to boost the stocks. Niles, who rates Intel as a "strong buy," said the company's first quarter appears to be on track as opposed to the slowdown some analysts predicted earlier in the week. To take advantage of the damage that was done to the stock, Niles recommended an "aggressive purchase" of Intel, saying momentum will pick up in the chip-maker's business in March with the release of its Pentium III processor. Intel's shares gained 2 1/4 to 112 1/16. The analyst also reiterated his "strong buy" rating on Texas Instruments, sending the stock up 3 1/16 to 89 9/16. Texas Instruments is holding its analysts' meeting Thursday, and Niles said he thinks TI's wireless business is making up for some weakness in storage. His belief is that the company is "comfortable with modest sequential revenue growth with a slight increase in gross margins." Other stocks on the upside were Novellus (NVLS), which gained 1 5/8 to 57 3/4; and Altera (ALTR), which continued its volatility, rising 2 9/16 to 52. Advanced Micro Devices (AMD) rose 1/8 to 18 5/8.