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Intel Corporation Message Board

  • sponsors_tomorrow sponsors_tomorrow Apr 16, 2012 12:56 PM Flag

    Intel: Q1, Q2 Estimates Rising; Caris Ups Target to $34

    In advance of Intel’s (INTC) Q1 earnings call tomorrow, after market, a number of Street prognosticators this morning offered up their expectations.

    The Street is modeling $12.85 billion in revenue and 50 cents EPS for Q1.

    For Q2′s outlook, the Street is at $13.45 billion and 55 cents.

    The background to today’s call is slightly better PC sales for Q1 reported last week by Gartner and IDC.

    Caris & Co.’s Caig Ellis reiterates a Buy rating and raises his price target to $34 from $32, writing that his estimates are going higher for revenue from PC microprocessor sales based on his review of sales by Taiwanese original design manufacturers (ODM), his review of third-party PC sales data from Q1, and “our own confidence in Intel’s inventory position.”

    Ellis raised his Q1 client revenue growth rate by two percentage points, to a decline of 7%, quarter over quarter, or $8.4 billion, raising his total Q1 estimate to $13 billion and 51 cents from $12.8 billion and 49 cents.

    Ellis thinks Q2′s outlook is also better now, on higher client shipment volume, boosting gross margin. He raised his estimate to $13.9 billion and 61 cents a share from a prior $13.6 billion and 56 cents.

    Meantime, Williams Financial Group’s Cody Acree reiterates a Hold rating on the stock, while writing that “positive market data” on PCs mean “we expect Intel is likely to deliver modest upside on both revenue and earnings for the March quarter and to give higher than consensus guidance for June.”

    Acree raised his Q1 estimate to $12.95 billion and 51 cents from a prior $12.81 billion and 50 cents. He also raised his fiscal year estimate to $58.59 billion and $2.59 from a prior $57.8 billion and $2.53 a share.

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