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

To: Steve Fancy who wrote (76727)	3/18/1999 2:44:00 PM
From: Paul Engel	Respond to of 186894

Steve - Re: " Any opinions on March options activity the last day or two. " My opinion? Somebody is betting that Intel is going to close ABOVE $120 tomorrow and somebody else is betting Intel will close BELOW $120 tomorrow. That's the options game. Paul

To: Steve Fancy who wrote (76727)	3/18/1999 2:47:00 PM
From: Paul Fiondella	Read Replies (1) \| Respond to of 186894

March Options My screen is green. They have been keeping the 120's and 125's premiums up on 6003 and 4136 contracts. It would seem like there is unusual demand for the calls with the stock stuck where it is. In particular the 125 ought to be at 1/8th and instead it is at 5/16ths and was as high as 11/16ths. I tend to be a doubter that anyone could pull off the five point run that would be needed to sink the 125 Puts and turn the 125 calls into winners. The MMII queue has been very deep all morning but the price hasn't been able to move up. Somebody could make a fortune in those calls if they can move this market up. =================== Aprils are all moving up substantially.

To: Steve Fancy who wrote (76727)	3/18/1999 3:04:00 PM
From: Doughboy	Read Replies (2) \| Respond to of 186894

Summary of Merrill Report: I don't know how to post .pdf files, so I'll just have to summarize the Merrill Lynch report which reinitiates coverage on Intel. Very Positive--Osha is a much bigger bull on Intel than Kurlak. Osha's one sentence conclusion on Intel: "Intel has what it takes to win." He reinitiates coverage with a bullish 2-1 rating (Intermediate term: Accumulate; Long Term: Buy), and blasts competitors AMD and National with 3-3 neutral ratings. New 12-month price target of 142 (30x FY99E). Estimates '99 earnings of 4.73 above consensus estimates and representing 37% growth from '98; thinks Intel will blow away estimates especially in the 2d Half of this year. Estimates '00 earnings of 5.62 or 19% earnings growth. Revenue growth of 21% for the next two years ('99 31.8 bb; '00 38.5 bb) Commentary: Thinks PC market is in transistion to a consumer electronics model, but doesn't think that that is all that bad; the other analysts are underestimating the unit growth that will be spurred by lower ASPs. Anyway, Intel has moved smartly into a the server market and that will provide the higher margins that Intel is accustomed to. Thinks concerns about this quarter are overblown. Intel will be fine. Explained that the euphoria got too high over the chip market in December as the backlog grew, but the change in sentiment has been too severe. Intel has been steady in its response throughout this period, hence Osha thinks they will meet or beat estimates. Doughboy.