Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Intel Corporation Raises Second Quarter Forecasts; Cites Increased Demand

Intel Corporation (NASDAQ:INTC) has today surged by as much as 7.5% to a high of $30.06, having raised the second quarter revenue forecast yesterday, after market hours. Citing stronger than expected demand for personal computers, Intel expects annual sales to increase for the fist time since 2011, according to a report from Bloomberg. The company projects sales of $13.7 billion, plus or minus $300 million, up from the previous estimate of $13 billion. Intel is scheduled to report its second-quarter results on July 15. Analysts expect the company to announce a profit of $0.46 per share.

“In the short to medium term, it looks like the market has stabilized, and business and corporate PCs are driving a lot of strength. It’s really a nice positive for them, even without needing the consumer to come back yet”, said Ian Ing, an analyst at MKM Partners.

Analyzing the situation, CNBC‘s David Faber and Jim Cramer are optimistic about the prospects of Intel Corporation (NASDAQ:INTC). Cramer has thrashed all analysts that have a bearish outlook for Intel and has branded himself an “Intel-aholic“.

“The idea that this company is going to have one quarter up and go back; Intel – sell […] so wrong, it’s frightening”, Cramer said.

Cramer cites Intel’s Chief Executive Officer, Brian Krzanich, who had previously pledged to cut down on the company’s capital expenditures, a move that is expected to result in an explosion of earnings. He eyes an increase in demand for Intel chips, an increase in gross margin to 67%, which will allow Intel to “triple its dividend and cut the cap ex”. He also predicts the stock to surge to $40 per share.

Cramer and Faber have questioned the actions of a number of brokers who have issued bearish outlooks for the stock. They have also discussed the biggest winner – Michael Dell. You can watch the full video below:

Disclosure: none.

Biotech Insider Alert - $5 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!