JPMorgan's (NYSE:JPM) Says Intel’s (Nasdaq:INTC) Sandy Bridge Processor Won't Drive PC Sales

Checks by JPMorgan (NYSE:JPM) find that the much-hyped Sandy Bridge processor appears not to be driving PC sales, as they haven't been able to find delays in PC purchases as a result of it, pressuring Intel (Nasdaq:INTC).

JPMorgan said, “We do not believe Intel’s new Sandy Bridge processor will drive overall global PC demand in Q1 of 2011, as we cannot find evidence of PC purchases delayed for it.”

The fallout will probably be that Intel results will be disappointing in the fourth quarter.

JPMorgan analyst Chris Danely maintains his view expressed several weeks ago that they will have trouble reaching even the mid-point of their revenue projection of $11.4 billion.

He sees earnings in the fourth quarter coming in at 47 cents a share, far below the 53 cents the Street is looking for.

JPMorgan reiterates their "Neutral" rating on Intel, which was trading at $21.06, down $0.09, or 0.45 percent, as of 12:20 PM EST.