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

To: Jerry Miller who wrote (75369)	3/4/1999 4:25:00 PM
From: Dale J.	Respond to of 186894

CNBC: Intel is buying Level One.

To: Jerry Miller who wrote (75369)	3/4/1999 4:29:00 PM
From: Mary Cluney	Read Replies (1) \| Respond to of 186894

Jerry, >>>did Intel just buy Level One Communications ? <<< They just mentioned it on CNBC in their interview with Michael Murphy. Level One was down graded - earlier in the day - and Intel announced afte the bell acquisition of Level One for $2.3 billion. I guess that was the reason for the Intel sell off at about 2PM. Anyhow, getting back to Michael murphy, he checked all the source for slow down in PC sales and could not come up with anything. Griffth then mentioned COMPUSA announced lower sales. Murphy replied that retail sales represents less than 10% of PC sales worldwide and it happens every - a seasonal slow down after Christmas sales. Said also that we will know by next week if there is a slow down or not. Intel has let their clients know they have until March 10th to cancel any orders. If there are cancellations, Intel will preannounce. But according to his checks, he couldn't find any slow down. Mary

To: Jerry Miller who wrote (75369)	3/4/1999 4:30:00 PM
From: Barry Grossman	Respond to of 186894

Jerry, Re: Level 1. Yes. Intel is buying them for about $48/share of Intel stock. By the way, CNBC just interviewed Michael Murphy of the California Technology Report (?) who said that everybody ought to buy Intel while it's this much off it's high because it's going to 150 soon and 200 next year. He sees NO slowdown evidence ANYWHERE he has checked. All PC sales are strong. When confronted with a COMP USA announcement today that sales have slowed somewhat, he said that they are in the retail sales segment which only accounts for 10% of pc sales worldwide and that any slowness is a regular post Christmas slowdown that happens every year. Murphy said that Intel has informed it's customers that if they want to cancel any orders for this quarter, they have to do it by March 10, so on March 11 Intel will know if they have to lower or "RAISE" their guidance. I liked what he said. Barry