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| Tekijä: | Cornell, B. |
| Otsikko: | Is the response of analysts to information consistent with fundamental valuation? The case of Intel |
| Lehti: | Financial Management
2001 : SPRING, VOL. 30:1, p. 113-136 |
| Asiasana: | Market research Case studies Financial management Microprocessors industry |
| Kieli: | eng |
| Tiivistelmä: | This paper examines the market reaction to a press release issued by Intel on Thursday, Sept. 21,2000. In response to that release, Intel's stock prise dropped 30%, erasing over ยง120 billion of shareholder wealth. By analyzing the press release in conjunction with analyst reports, and by using a discounted cash flow valuation model, the author argues that the information conveyed by the announcement was not sufficient to explain the stock prisce drop. |
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