Market Overview

Why The New Mac Justifies Intel's Increased PC Guidance

Share:
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."

Full ratings data available on Benzinga Pro.

Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

Latest Ratings for AAPL

DateFirmActionFromTo
Dec 2019MaintainsOutperform
Dec 2019Initiates Coverage OnBuy
Dec 2019MaintainsOverweight

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: Apple Computers Apple Mac Global Equities ResearchAnalyst Color News Guidance Analyst Ratings Tech Best of Benzinga

 

Related Articles (AAPL + INTC)

View Comments and Join the Discussion!
Need corporate guidance data?
Click here to see licensing options.

Latest Ratings

StockFirmActionPT
PLCEB. Riley FBRDowngrades59.0
ASPUCanaccord GenuityMaintains11.0
AAPLEvercore ISI GroupMaintains305.0
FCELCraig-HallumReinstates0.500
THTXMackie ResearchUpgrades
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

The Market In 5 Minutes: Stocks Unfazed By Weekend's Violent Attacks

Wells Fargo Upgraded To Outperform, Baird Says $25 Billion In Lost Market Cap Is Enough