Friday, December 31, 2010

Wells Fargo (NYSE:WFC) Upbeat on Intel (NASDAQ:INTC)

Most of the market isn't too impressed with Intel (NASDAQ:INTC), but Wells Fargo (NYSE:WFC), while not bullish on them, does see them holding their own heading into 2011.

Other analysts see Intel's EPS dropping, while Wells' analyst David Wong believes it as going to be more flat, coming in at about $2 a share.

Wong noted the soon release of Sandy Bridge processors for PC and Servers as a catalyst, and also its Oaktrail processors, which will be placed in Microsoft (NASDAQ:MSFT) Windows and further on for devices running Google's (NASDAQ:GOOG) Android.

In the future they also have their Atom chip and Meego OS which they've been working with Nokia (NYSE:NOK) on.

Wells maintains their "Top Pick" on Intel, which closed Thursday at $21.02, up $0.08, or 0.38 percent. Wong has a valuation range of $24 to $30 on the chip company.

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