All Eyes On Intel

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“We are growing increasingly concerned on an inventory correction for PC components due to weakening demand and high channel inventory.”

“Intel Takes One For The Team” (subscription required), JP Morgan Analysts Christopher Danley and Scott Jones in a note downgrading Intel from “Buy” to “Hold” on Friday January 4

Intel (INTC) is reporting 4th quarter earnings after the close today and their announcement and especially their forecast going forward will be closely watched.

Fast Money’s Jeff Macke put his finger on three key things to pay attention to:

1. EPS – analysts are expecting 40 cents in the just completed quarter and 34 cents in the 1st quarter of ’08.

2. Gross Margins – needs to be above 55%, according to Macke.

3. Economic Outlook – is Intel seeing signs of a slowing economy?

Also see today’s “Ahead Of The Tape”: “Will Intel Put an End To Chip Jitters?” (subscription required), Mark Gongloff, The Wall Street Journal, January 15, C1

Disclosure: Top Gun has no position in Intel (INTC) shares.

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