The company's stock was not affected. In morning trading, the stock was down 1-3/4 from Friday's close of 156-3/8.
Randall maintained earnings estimates of $8.75 per share for 1997 and $10.60 for 1998, with a target price of $180. He said he was impressed by a technology demonstration Intel held Friday for its next generation of Pentium Pro chips. Microsoft's decision to end support for the PowerPC chip was also a factor, as it pushes aside a key rival to Intel technology.
Randall said the Klamath trial showed things were on track for Intel's scheduled spring rollout of the new chip. The demonstration "shows the [Klamath] architecture has a lot of headroom in it," he said.
The 400-plus MHz clock speed is more than double the speed of current top-of-the-line Pentium Pro chips running at 200 MHz.
Donaldson, Lufkin & Jenrette raised its 1997 earnings estimate for Intel to $8.50 a share from $7.60 a share, a source said.
Reuters contributed to this report.