Intel's (NASDAQ:INTC) 2011 Looks Better on Taiwanese Build Rates, PC Demand

With build rates in Taiwan looking better than originally thought and consumer demand for PCs rising, Needham & Company slightly boosted the numbers of Intel (NASDAQ:INTC) for 2010 and 2011.

Needham says, "Given slightly better-than-feared build rates out of Taiwan and improving consumer PC demand trends, we are slightly increasing our 4Q10 revenue and GAAP EPS estimates to $11,250MM/$0.52 from $11,000MM/$0.50. This compares with the current consensus of $11,368MM/$0.53... We are slightly increasing our 2011 estimates to $45,300MM/$1.90 from $45,000/$1.90 given stabilizing PC market trends. This compares with the current consensus of $45,109MM/$1.95...We are introducing 2012 revenue and non-GAAP EPS estimates of $47,700MM/$2.15, representing 5.3% and 13.2% growth over 2011, respectively."

Needham & Company reiterates a "Buy" on Intel, which closed Monday at $20.69, up $0.03, or 0.15 percent. Needham raised their price target from $23 to $26 on Intel.