The problem for shorts isn't earnings; it is outlook. With Romley selling like no tomorrow, and reviews saying there is no good reason to buy any competitor at almost any price because of efficiency, the outlook in data is very strong. Smartphones are proliferating, as is the cloud and virtual applications--huge data center growth coming. Ivy rolls out in a couple of weeks. Will likely drive growth. Also, with Sandy Bridge being such a great chip still--far better than any competition--it will likely sell very well, too. Another, the PC numbers reflect a move from netbooks to core, so even though numbers aren't going nuts, price per computer, margin per computer all doing great. W8 is going to drive a very strong second half. I expect Intel to drive right through 30 in the coming weeks. We'll see.
I see INTC acting much like T has recently. There will be the usual runup into Ex-Div then the selling will begin, giving all a nice opprotunity to buy more. We will probably see a spike after earnings, but sit back and wait for the Ex-Div date and buy on the pullback after then. I see INTC @ $35 by years end.
Not to worry, this sort of diatribe has been posting for ten years now. But, now I get a sense that its [recent] purpose is not anti-Intel at all. When Intel surpasses [phony downgrades] recent estimates, naysayers will be dumbstruck.
At current prices Intel is a true long term [twenty five years out] holding. There will be a time when Intel will be trading at $285. per share, not $28.50. I don't even have to think about it.