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Intel Upgraded and One of Few Winners in the Dow

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On an all around bad day for the markets in general and tech specifically,



was one of the few bright spots.

The chipmaker was raised to outperform from hold at

ABN Amro

, giving some good news to a company whose stock has been crushed lately.

But not everyone is convinced. The folks at

Credit Suisse First Boston

downgraded Intel to buy from strong buy.

Merrill Lynch

upped its fourth-quarter earnings per share estimate to 43 cents a share, up a penny from its previous estimate, but said that its was concerned about 2001. With that in mind, it cut Intel to long-term accumulate from long-term buy.

Since hitting a 52-week high of $75.81 less then two months ago on Aug. 28, Intel has lost more than half its value. It closed yesterday on the

New York Stock Exchange nearly $40 lower than that high mark, ending the day at $36.19.

Fears of a slowdown in the semiconductor industry, concerns that Intel is hemorrhaging market share and a

nasty warningfrom the company have all combined to torpedo the stock's value.

Today looks like a mixed bag. On one hand, ABN Amro said its confidence in Intel rose after hearing a conference call about the company's

third-quarter earnings, which came in at 41 cents a share, exceeding reduced estimates by three cents a share. On the other, Intel is down nearly 10.1% this month.

Intel was lately up $2.13 to $38.38, one of the few positive movers in the

Dow Jones Industrial Average.