Goldman also lowered Intel EPS to the $1.60/$1.90 range. Since Intel has already earned $1.65 in the first 9 months, GS is saying that Intel Q4 earnings will be between -0.05 to 0.25.
If Intel loses money in Q4, it will be a surprise.
Sept. 30, 2012 0.58
June 30, 2012 0.54
March 31, 2012 0.53
Off Schwab Intel news:
In keeping with their negative view of the stock, analysts at Goldman Sachs maintained a Sell rating on Intel (Nasdaq: INTC) and lowered their price target to $16.00 (from $20.00). The problem, in the view of Goldman, is margins.
"We expect excess supply as Intel and AMD (NYSE: AMD) have record inventory," warned analyst James Covello. "Our hardware team expects the PC unit CAGR to be zero from 2011-2014E, and we believe the full extent of Intel's new capacity has yet to come online,"
Corvello noted that Intel stock is highly correlated to gross margin, which could take a hit as supply builds.
"Intel's 3Q12 capex was its second highest ever, suggesting that significant supply will come online for several more quarters and exacerbate current excess capacity," added Covello.
For the record, Covello's Sell rating on Intel is based on cyclical concerns. In other words, it is not a call related to the so-called 'death of the PC'.
Goldman lowered Intel's 2013/2014 EPS estimates to $1.60/$1.90 from $1.70/$2.05.
For an analyst ratings summary and ratings history on Intel (Nasdaq: INTC) click here. For more ratings news on Intel click here.
Shares of Intel closed at $20.09 yesterday, with a 52 week range of $19.23-$29.27.
I know joe public is stupid when it comes to the Obama plan but I would have thought that we hear all knew but here goes.
Obama will put ALL the tax breaks for 200,000 single or 250,000 couple back in and of course the Repukes will go for it. SO--all the money you make up to those amounts will keep their Cap gain rates that we now see. No Change.Everything you make over those amounts in real income and or Cap gains will be subject to what ever new taxes they will increase.