Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Markets & Finance

Salomon Trims Intel Outlook


Salomon Smith Barney cut estimates on Intel (INTC).

Analyst Jon Joseph says several channel inputs suggest Intel's average processor contract price may be running slightly lower than he anticipated, largely due to a product mix favoring lower priced processors. He notes there are several factors that could boost application service providers in the next six weeks, like heavy back-end loading in Q3, an aggressive Pentium 4/845 chip push, and a channel fill for Microsoft's Windows XP launch.

Even so, Joseph cut the price assumptions from $157 to about $150, and cut the Q3 unit estimate from 28 million units to about 27 million units. He also cut the $6.64 billion Q3 revenue estimate to $6.24 billon, trimmed the Q3 $0.11 EPS to $0.08, cut the $0.54 2001 EPS to $0.47, and lowered the $0.75 2002 estimate to $0.70. Joseph maintains his buy rating and $40 target.


The Aging of Abercrombie & Fitch
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus