Nomura Securities Maintains a 'Neutral' on Intel (INTC); Preview Ahead of Analyst Day

Nomura Securities maintains a 'Neutral' on Intel (NASDAQ: INTC), PT $23.

Nomura analyst, Romit Shah, said, "We expect Intel to strike a positive tone on overall PC demand. That said, the data, in particular from Taiwan, continue to indicate that Intel has set unrealistic expectations for PC growth this year. As such, our revenue estimate of 6% growth in Q3 and 2% growth in Q4 is below seasonality of 9% and 6%, respectively. In addition, Intel is likely to be more pragmatic on average selling prices, which benefited from several one-time items in Q1. The biggest strategic question for Intel, in our view, is the product roadmap for mobile computing (smartphones and tablets)."

For more ratings news on Intel click here and for the rating history of Intel click here.

Shares of Intel closed at $23.41 yesterday.

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