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Why The New Mac Justifies Intel's Increased PC Guidance

Why The New Mac Justifies Intel's Increased PC Guidance

Shares of Intel Corporation (NASDAQ: INTC) gained more than 3 percent on Friday after the company revised its revenue forecast and other financial metrics higher due to improving PC demand.

Related Link:Chip Stocks Mostly Soar As Intel Raises Q3 Guidance

Trip Chowdhry of Global Equities Research commented in a research report following Intel's boosted guidance that Apple Inc. (NASDAQ: AAPL)'s upcoming new Mac computers are the "prime reason" for Intel's improved outlook.

Related Link: Chip Stocks Mostly Soar As Intel Raises Q3 Guidance

According to Chowdhry's checks, Apple is already seeing strong back-to-school sales. Specifically, Mac computers are outselling Windows PC computers by a margin of three to one, and according to some checks, more than 80 percent of incoming students bought a Mac.

Chowdhry continued that the new Macs are just entering production and should launch in the third week of October. The computer will be "significantly refreshed" with a redesigned keyboard. Meanwhile, initial indications suggest the new computer "will have a strong demand."

The analyst further suggested that when Intel issued its initial guidance early in the quarter it was "not aware" of Apple's production demand. The company has now updated its guidance to "primarily reflect the demand form Apple's new upcoming Mac's and is less to do with Windows PC's demand."

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