Fast Money Traders Weigh In On Intel's Earnings

Guy Adami analyzed on the show earnings results of

, which dropped almost 2.5 percent in after-hours trading on

in its guidance. Adami said that margins were better in the last quarter, which led to better-than-expected earnings per share. He doesn't see

report as negative and he thinks that traders can't get hurt being long the stock. At 15 times forward earnings the stock is not expensive, added Adami and explained that the stock moved lower because people were looking to sell something on a weak day for a broad market. He would buy it if it settles around $35. Tim Seymour commented that Intel had big moves on earnings in the past, but it managed to recover the next day. He added that investors believe that the PC space is struggling. Steve Grasso added that Intel has been treated as a safety bet and that will probably continue, but if the market continues to trade lower every stock is going down with it. Brian Kelly thinks that the upgrade cycle in the PC segment looks to be ending or slowing down. If the stock doesn't hold $35, he would be a seller.