Barron's comes out bullish on Intel (INTC)

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In this week's Barron's, tech investing columnist Mark Veverka lays out the bull case for Intel (Nasdaq: INTC), which includes these main points:

• Intel has been suffering from a lack of leadership role in the high-growth smartphone and tablet processor markets; that should soon come to an end with new design wins
• Continued leadership in PC processors, including the high growth Ultrabook area
• Massive cloud computing growth
• Strength in high-performance, big data applications
• Cash-rich, with $7.1 billion in net cash and investments,  yet pays a current 3.5% dividend and has bought back stock
• A "four year lead" in manufacturing process technology

Leaning, as usual, on a third party investor's assessment, Barron's concludes that "Intel shares should get revalued as it powers more smartphones and other mobile devices. Two-year upside is $38-$40, about 50% above current levels."

Covestor models that are long Intel with over 5% allocation as of end of day 5/25/12:

• 401 Advisor - Dividend and Income Plus
• Capital Ideas - Macro Plus Income
• Leif Erikson - Performance with Protection
• James Roberts - Fortune's Most Admired and Stock Diagnostics

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