Intel’s Estimates Cut at Morgan Stanley; Sees Lower PC Demand (INTC)

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Computer processor maker Intel Corporation ( INTC ) on Tuesday saw its earnings estimates lowered by analysts at Morgan Stanley.

The firm said it cut its estimates for INTC through 2011, noting that recent channel checks indicate that notebook PC demand is slowing. Morgan Stanley currently rates the stock as "Equal-weight."

Intel shares were mostly flat in premarket trading Tuesday.


The Bottom Line
We had removed shares of INTC from our recommended list back on June 8, 2010, when the stock was trading at $20.31. The company has a 3.33% dividend yield, based on last night's closing stock price of $18.93. The stock has technical support in the $16-$17 price area. If the shares can firm up, we see overhead resistance around the $21-$22 price levels. We would remain on the sidelines for now.

Intel Corporation ( INTC ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: INTC

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