Some Hope to Catch Bottom on Intel (INTC) Into FY13, Windows 8 Tablets

January 4, 2013 11:43 AM EST
Intel Corp. (Nasdaq: INTC) might be lower on the session, but some are taking the opportunity to grab up some shares.

According to the latest market data, more dollars are being put into a tick up on the stock versus a move lower for a net $19.9 million positive. The uptick-to-downtick ratio is about 1.95 times, or $40.8 million of activity on the uptick versus $20.9 million on a tick lower.

Intel shares are trading well-off annual highs above $29, down about 28 percent since the high was reached last May. Shares have recently found some resistance at the $21.15 to $21.50 level after popping higher Wednesday on fiscal cliff exuberance.

Currently, Intel's P/E is about 9.3 times and forward P/E at 11 times. Analysts with a Buy versus Neutral rating are just about flat at 22 and 25 respectively. The Street also has a price target average of just over $23 on the shares.

Many have been concerned over Intel's future recently with peers like Advanced Micro (NYSE: AMD) cutting jobs and trimming estimates. The company has been trying to make a stronger push into mobile devices with the expected integration of its new "Clover Trail" chip into Microsoft (Nasdaq: MSFT) Windows 8-based tablets, though there have been some integration issues leading to delays.

Still, with shares just 9.6 percent over annual lows and 26 percent below annual highs, investors who aren't in Intel might want to take a second look as 2013 might be a turning point for the chip giant. Shares are down 1.2 percent Friday.

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