Needham & Company Maintains Hold Rating on Intel (INTC) Following Dinner with Management
Needham & Company maintains a Hold rating on Intel (NASDAQ: INTC) following dinner with management. Analyst Quinn Bolton said that INTC is cautiously optimistic on Windows 10 launch.
Bolton commented, "We just returned from dinner at Computex hosted by Intel’s Gregory Bryant, VP, Client Computing Group, and Gary Willihnganz, Director, Intel Investor Relations. Greg runs Intel’s Desktop PC business, which generated ~$14.3bn of revenue and an OM of ~50% in 2014, and home gateway (cable modem and Lantiq) business. Highlights of the dinner include 1) Intel's desktop segment share has reached an all-time high, 2) management is "cautiously optimistic" on the launch of Windows 10 and continues to expect a "better than seasonal 2H15" in the desktop business (and overall) and 3) the company believes Skylake could drive a desktop refresh cycle."
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Shares of Intel closed at $33.91 yesterday.