Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Roads End who wrote (52368)	3/9/1999 5:12:00 PM
From: Elwood P. Dowd	Read Replies (1) \| Respond to of 97611

Intel Declines Comment As Rumors Swirl About Q1 SAN FRANCISCO (Reuters) - Intel Corp. (Nasdaq:INTC - news) declined to comment on market rumors that the microchip group would soon pre-announce a first quarter earnings shortfall, fueling a drop in its stock Tuesday. ''I can't comment on market rumors,'' said Tom Waldrop, a spokesman for Santa Clara, Calif.-based Intel. Intel shares dropped $4.31 to $115.31 in very heaving trading, especially in the last hour before the market closed. Traders and fund managers said they had been hearing the rumor in the last hour or so of trading and they were not surprised by it, given the current PC industry environment. ''Just based on what we know about the PC business, it wouldn't be too surprising if things were a little bit light,'' said one fund manager who asked not to be named. Earlier this month, the world's biggest PC maker, Compaq Computer Corp. (NYSE:CPQ - news) warned of weaker-than-expected demand for personal computers. Last month, high-flyer Dell Computer Corp. (Nasdaq:DELL - news) reported slower-than-expected fourth quarter revenue growth. Analysts also said that news of a significant loss in the first quarter from Intel rival Advanced Micro Devices Inc. (NYSE:AMD - news) late Monday was also putting pressure on chip stocks.