Intel (NASDAQ: INTC) Q3 revenue is expected to be $14.4B, plus or minus $500M in the third quarter. The midpoint of this range is up slightly above 4% from the second quarter, in line with the average seasonal increase for the third quarter that we have seen over the last several years.

(Street sees revenue of $14.02 billion)

Gross Margin
Gross margin in the third quarter is expected to be 66%, plus or minus a couple points, up 1.5 points from the second quarter.

Spending
Spending for R&D and MG&A in the third quarter is expected to be approximately $4.9B, flat to the second quarter.
Depreciation is forecast to be approximately $1.9B, flat from the second quarter.

2014 Outlook
Revenue for the year is expected to grow approximately 5% relative to 2013, an increase from the April outlook of approximately flat.
Gross Margin
Gross margin for the year is expected to be 63% plus or minus a couple points, up versus our prior expectation in April Outlook of 61%.

Spending for R&D and MG&A for the year is now expected to be $19.3B plus or minus $200M, higher than our prior expectation of $19.2B in the Revised Outlook on June 12, primarily as a result of increases in revenue- and profit-dependent spending and marketing expenses.

Amortization of acquisition-related intangibles is still expected to be approximately $300M.

Depreciation for the year is still forecast to be approximately $7.4B.