S&P Capital IQ Awaits Q2 Results for Intel Corporation

In a report published Friday, S&P Capital IQ analyst A. Zino reiterated a Buy rating on Intel Corporation INTC. In the report, S&P Capital IQ noted, “INTC provides preliminary Q2 revenue update of $13.7 billion vs. $13 billion previously. It also raises gross margin view to 64%. The better outlook primarily reflects higher than anticipated PC unit volume. INTC now sees sales growth for '14 vs. flat prior and gross margin in the upper half of guidance (61% +/- a few percentage points). We are not surprised by the revision, given our view of PC demand stabilization/improvement in the U.S./Europe markets. We see more upside from Windows 7 adoption and believe tablet cannibalization is moderating. We await Q2 result on July 15.” Intel Corporation closed on Thursday at $27.96.