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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: John Carragher who wrote (182806)	12/1/2005 12:04:37 PM
From: Proud_Infidel	Read Replies (3) \| Respond to of 186894

Intel Shares Could Sell Off On Revs Guidance Peter Kang, 12.01.05, 11:51 AM ET Bear Stearns maintained an "outperform" rating on Intel (nasdaq: INTC - news - people ) and said it expects the semiconductor titan to raise sales guidance when the company issues a mid-quarter business update next week. "Our recent channel checks indicate that PC builds in the fourth quarter have been tracking better than expectations earlier in the quarter, for both desktops and notebooks, which should contribute to upside in the quarter," wrote analyst Gurinder Kalra, in a client note. "The desktop chipset shortage has eased in recent weeks, contributing to upside in motherboard builds. We believe Dell's (nasdaq: DELL - news - people ) weak January quarter guidance was not indicative of overall PC market weakness." Bear Stearns lifted the fourth-quarter sales estimate to $10.7 billion from $10.6 billion; the earnings-per-share forecast was raised by a penny to 44 cents. "We have been highlighting for some time that Intel's revenue guidance was conservative," he said. "At this stage, we believe that the better-than-expected PC builds and the expectation of guidance being raised has been priced in to Intel's stock--the stock has clearly outperformed over the past one month--and we believe that it could sell off on the news." The research analyst reiterated a price target of $31 on the stock. Despite a dearth of near-term catalysts, Kalra said Intel's "outperform" rating is justified by an attractive current valuation and medium-term catalysts which include "growth in its NAND business, proliferation of its platform strategy on the desktop side, a strengthening server product portfolio, and growth from Apple Computer (nasdaq: AAPL - news - people ) next year."