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Thursday, 28 June 2012 12:28

Analyst cuts Intel's estimates

Written by Nick Farrell



PC sales are too soft


Caris & Co.’s Craig Ellis cut his estimates for Intel profits for this quarter and the year, citing “checks” that show a “downtick” in PC unit growth.

This is all due to macroeconomic weakness, especially in Europe. Ellis thinks that you should still be buying Intel shares things that they are  probably worth $34 each. He cut this quarter’s estimate to $13.73 billion in revenue and 54 cents a share in profit, down from $13.88 billion and 56 cents.

He thinks that Intel will only make $56.91 billion this year down from $58.02 billion. Ellis blames poor sales in the EU for the loss of profits, but he said that he also sees plenty of “plusses.”

He liked the Romley/Brickland and Ivy Bridge product cycles, the fact that PC’s are a back to school device of choice. There is also diversified emerging country PC demand. Ultrabook 2.0 adoption looks pretty good and there is lots of mobile Internet Data Centre server demand.

Intel got a Samsung Galaxy SIII baseband Wireless win seen 25 per cent rises in its Embedded markets and has good enterprise SSD NAND demand.

Nick Farrell

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