Intel Baited with Earnings Anticipation

Today is a day of great anticipation for one of America’s biggest companies, Intel Corporation (NASDAQ:INTC).  Tomorrow Intel will announce Q3 earnings after the market close.  Everyone is hoping for a positive earnings call that will allow this stock to continue its recent uptrend.

Traders have already pushed up INTC shares up nearly +8% in the last 5 trading days and today shares are up again over +1.3% at $20.44 per share.

According to analysts, Intel Corporation (NASDAQ:INTC) is projected to post a third-quarter gain of 27 cents a share, which is up 11 cents from 90 days ago. In the year-ago quarter, Intel earned 34 cents per share on revenue of $10.2 billion. The analysts’ consensus recommendation on the stock is a buy at 8.0 out of 10 according to SmartMoney.com.

It appears that the stock has indeed bottomed after the March meltdown of the broad market.  Intel has been rallying since its gap up on July 15, and its dividend yield of 2.82% in nothing to forget about either.  Intel is a strong, long-term company and will likely be sticking around for many years to come.  This stock may be a good buy on any weakness that brings the stock down to the $19 level.  If earnings disappoint, it might be wise to allow the market to react and then pounce, buying shares at a nice discount.  If earnings meet expectation or surprise, then we would anticipate the rally on Intel to continue and the trend to continue for the stock price.

Intel Corporation (NASDAQ:INTC) is the sector giant that designs, manufactures, and sells integrated circuits for computing and communications industries worldwide. It offers microprocessor products used in desktops, nettops, workstations, servers, embedded products, communications products, notebooks, netbooks, mobile Internet devices, and consumer electronics, as well as in embedded designs, such as industrial equipment, point-of-sale systems, panel PCs, automotive information/entertainment systems, and medical equipment.

Disclosure: No positions in INTC at the time of this writing.