Intel Corporation (Nasdaq: INTC) is trading in negative territory Tuesday ahead of the company's Q1 report, which is expected out after markets close.

Consensus estimates peg INTC posting Q1 EPS of $0.41 with revenue of $12.9 billion, from EPS of $0.38 and revenue of $12.8 billion reported in the same period last year.

Money flow on INTC is $30.0 million for an uptick-to-downtick ratio at 1.5 times, suggesting more buying pressure on the name in afternoon trading.

Cowen and company recently highlighted key issues for investors to watch into the report:

1. PC market view in light of inventory/channel burn, potential demand destruction from FX and 2H impact from Win10;
2. comments on improvement in MCG losses as this will become somewhat obfuscated by reporting combination w/PCG;
3. gross margin impact from significant revenue decline in CQ1;
4. update on Skylake timing (currently planned for late '15) and any further commentary on 10nm timing + implications on start-up costs;
5. granularity on data center outlook given guide for 15% growth through 2018 and current mid 20's Y/Y growth; and
6. potential color on foundry initiatives now that 14nm is ramping and potential Altera (Nasdaq: ALTR) M&A.