Abet Chichi2

[chichi2]

09:05 ET Intel: Piper would sell into strength as stock approaches $35 target (INTC) 30.43: -- Update -- Piper Jaffray says that seasonal weakness in 1H03 could be exacerbated by an abbreviated desktop product cycle (Prescott/Springdale) and continued hesitancy by corporate buyers; also, the redesign of Prescott/Dothan has pushed out the 90nm ramp to 2-1/2 years after the 130nm process, which would imply that the 65nm process may not ramp until 1H06; with sequential and YoY growth peaking, firm recommends selling into strength as INTC shares approach their target of $35. Maintains Outperform rating.