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Technology Stocks : Micron Only Forum -- Ignore unavailable to you. Want to Upgrade?

To: Carl R. who wrote (45015)	4/12/1999 10:37:00 AM
From: phbolton	Read Replies (1) \| Respond to of 53903

04/12 09:07 *ROBERTSON STEPHENS CUTS INTEL <INTC.O> TO LONG TERM ATTRACTIVE SOURCE NEW YORK, April 12 (Reuters) - Roberston Stephens downgraded its rating of Intel Corp. <INTC.O> to long-term attractive from short-term buy, a market source said on Monday. The downgrade by analyst Daniel Niles was later confirmed by the brokerage. -- Shares of Intel were down 3-1/4 at 62-1/8, with the stock the second most active on Nasdaq. -- "The stock has rallied nicely from our upgrade in the second quarter of 1998 and since early March pre-announcement rumors," the analyst said in a brief research note. When Niles upgraded the stock, it was at $76 a share, or $38 after taking into account a 2-for-1 stock split. -- Niles said a move to cheaper personal computers, such as those selling for less than $500 or for free, by the end of the year plus the use of Intel's cheaper Celeron chip could make average-selling-price trends difficult in the near-term. -- Intel may not be able to match its strong, first-quarter gains in market share (about 1.5 million units) against competitors Advanced Micro Devices Inc. <AMD.N> and Cyrix, a line of microprocessors made by National Semiconductor Corp. <NSM.N> "as those companies become more desperate," he said. -- Niles keps his earnings forecast numbers intact, saying he earnings to come in line with estimates. The company is due to report on Tuesday, with the consensus on Wall Street for earnings of about $0.81 a share, according to First Call. -- Niles also expects Intel to give guidance for flat to slightly-down revenues for the second quarter, leading to a potential reduction in estimates. -- The downgrade came a day after a late-Friday earnings warning by Compaq Computer Corp. <CPQ.N>, the world's No. 1 maker of personal computers. The Nasdaq was down 40 points or 1.6 percent at 2552. Another "leak"???????? If so, Wed could be further down than today.