Oppenheimer Maintains a 'Perform' on Intel (INTC); Still Sidelined
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Price: $102.50 -1.97%
Rating Summary:
24 Buy, 39 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
24 Buy, 39 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Oppenheimer maintains a 'Perform' on Intel (NASDAQ: INTC).
Analys, Rick Schafer, said, "We attended the 2012 Intel Developer Forum Tuesday in San Francisco. There were no major financial/strategic updates following last week's negative pre-announcement. In retrospect, INTC appears to have misjudged 2Q consumption. PC TAM was below expectations leading to excess inventory across the channel. 3Q PC TAM has continued this bearish trend. Mgmt believes OEM/ODMs are depleting inventory ahead of Win8 launch to avoid overbuild as consumers delay PC purchases. INTC has not seen a shift to lower priced core/Atom products, but does expect to help drive lower priced Ultrabooks for holiday season. Data center remains healthy with notable strength in cloud data center and high-performance computing. Fourth-generation core processors, 22nm Haswell, remain on track for 2013 launch with a clear focus on power and user interface as mgmt recognizes next-generation compute is all about mobility. We believe the raft of new Windows 8 (Nasdaq: MSFT) products runs the risk of confusing consumers, however, and based on today's demos, the Win8 touch interface remains a work-in-progress."
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 $23.34 yesterday.
Analys, Rick Schafer, said, "We attended the 2012 Intel Developer Forum Tuesday in San Francisco. There were no major financial/strategic updates following last week's negative pre-announcement. In retrospect, INTC appears to have misjudged 2Q consumption. PC TAM was below expectations leading to excess inventory across the channel. 3Q PC TAM has continued this bearish trend. Mgmt believes OEM/ODMs are depleting inventory ahead of Win8 launch to avoid overbuild as consumers delay PC purchases. INTC has not seen a shift to lower priced core/Atom products, but does expect to help drive lower priced Ultrabooks for holiday season. Data center remains healthy with notable strength in cloud data center and high-performance computing. Fourth-generation core processors, 22nm Haswell, remain on track for 2013 launch with a clear focus on power and user interface as mgmt recognizes next-generation compute is all about mobility. We believe the raft of new Windows 8 (Nasdaq: MSFT) products runs the risk of confusing consumers, however, and based on today's demos, the Win8 touch interface remains a work-in-progress."
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 $23.34 yesterday.
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