Yesterday, before the close, there were 34 top analysts who followed Intel. 4 said SELL 15 said HOLD 14 said BUY
The concensus of the 34 top analysts, today, based on the revised targets and upgrade, is that they were very, very wrong about Intel IN THIS CURRENT ENVIRONMENT and had to reassess their ratings and targets.
Covello confessed that he was wrong about Intel guidance. He may still be wrong.
"Covello writes, “Our call that Intel would guide 4Q11 below the Street due to weak PC demand was very wrong.” Intel is doing better than the PC market for a few reasons, he notes, including the fact that suppliers in the PC channel stuck with unsold Netbook inventory are tilting the entire PC market results to the downside relative to Intel’s actual processor shipments."