Wells Fargo Remains Bullish on Intel (INTC) Ahead of 3Q15 Earnings

Wells Fargo reiterated an Outperform rating on Intel (NASDAQ: INTC) ahead of the company's 3Q15 earnings results. Intel is scheduled to report earnings after market close on 10/13.

Analyst David Wong commented, "Intel is scheduled to report earnings after market close on 10/13. We think that Intel will be able to report solid sequential sales growth of 8% or better in the September quarter and guide to further sequential growth in the December quarter. Intel’s guidance suggests gross margin might rise sequentially in the September quarter, to 63%, and we think that there could be upside to December quarter gross margin expectations of about 60.5%. We are reiterating our Outperform rating on Intel, Intel remains our top pick."

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 $32.32 yesterday.

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