Intel (INTC) Q3 Results Included Three 'Modestly Disappointing' Items - Needham & Company

October 16, 2013 7:46 AM EDT
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Needham & Company reiterated a Hold on Intel (NASDAQ: INTC), citing three disappointing items following Q3 results.

"While there was nothing abjectly wrong with Intel's 3Q13 results, three modestly disappointing items keep us cautious on INTC shares," N. Quinn Bolton said. "First, 4Q13 guidance fell modestly short of our and consensus estimates due to continued caution in the PC supply chain. Second, Data Center Group revenue missed our 3Q13 estimate by ~$100MM and may fall short of management's target for 10%+ growth in 2013. Last, due to defect density issues, the company has delayed the manufacturing ramp of its 14nm process node and the Broadwell CPU by a quarter."

For an analyst ratings summary and ratings history on Intel click here. For more ratings news on Intel click here.

Shares of Intel closed at $23.39 yesterday.

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