Intel (INTC) Revenue to Come in at Low End of Guidance Says JPM (JPM)

JPMorgan (NYSE:JPM) analyst Mark Moskowitz says he sees the guidance given by Intel (NASDAQ:INTC) for the first quarter will coming in at the low end, pushing the share price of the company down.

Moskowitz believes PC shipments in 2011 will be lower than he originally anticipated, and sees that as making production rates of Intel as being too high in a lower demand market.

"Although almost every company in the PC food chain is guiding first quarter 2011 roughly in line with or below seasonal, Intel expects its first-quarter revenues (excluding acquisitions and other items) to be roughly flat quarter-over-quarter, well above normal," added JPMorgan analyst Christopher Danley.

Intel closed Monday at $21.47, down $0.39, or 1.78 percent.