Intel Looks Good Below $20 a Share

Intel (INTC) dropped below $20 a share this morning. The stock has been as low as $19.88. Bear in mind that the company has solidly beaten estimates for the last three quarters.
Just one month ago, Intel said it was “highly confident” that it would achieve its goal for the second quarter.

Intel Corp expects to double its earnings growth in the next few years and on Tuesday raised its long-term margin outlook, as the world’s top microchip maker spreads its chips beyond PCs to gadgets like smartphones and televisions.
Chief Executive Paul Otellini told investors on Tuesday that Intel is eager to establish a footprint in fast-growing — but intensely competitive — markets, diversifying beyond a PC market it now dominates.
“We are poised to take smart computing into whole new segments where it hasn’t been before,” Otellini said at the company’s annual investor meeting at Intel’s Santa Clara, California, headquarters.
The company also said it remains “highly confident” that it will achieve its financial goals for the current quarter despite rising concerns about European economies amid Greece’s financial crisis.

Posted by on June 8th, 2010 at 10:22 am


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