Wedbush analyst, Betsy Van Hees, expects the Q1 print and Q2 guide to be in-line with the Street and look for Intel (NASDAQ: INTC) to reaffirm full year 2016 outlook as INTC provides greater transparency into its business with the breakout of additional segments. She believes with expectations so low, "there is little INTC can say at this point following 1) well known weak Q1 PC environment, 2) Seagate’s and Super Micro’s negative preannouncements, and 3) Street estimates continued downward progression into the print to cause the stock to move lower".

Sources of upside include: 1) ramp of Skylake and improving PC demand, 2) Broadwell ramp which could drive Y/Y double digit DCG growth, 3) cost synergies from Altera, and 4) continued reduction in mobile losses.

The analyst reduced her PT to $39 from $41 based 14x 2017 EPS of $2.76.

Intel (INTC) will report Q1 results AMC on Tuesday, April 19, and host a conference call at 5 PM EDT, Dial in: 877-303-7005, passcode: 74901200.

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 $31.80 yesterday.