Intel Corporation (NASDAQ:INTC) On Track to Ship 40M Tablet SOC’s in 2014

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On Intel Corporation (NASDAQ:INTC)’s Q1 earnings conference call, Management said the company had previously established a goal of shipping 40M tablet SOC’s this year, and it was “squarely on track” to achieve that mark. The company shipped 5M units in Q1. Management said 2014 was “off to a solid start” and Q1 finished “about as expected.” They noted that they saw continued improvement in enterprise clients, Mobile unit volume was up year-over-year, and two-in-one chip volume increased more than 20% sequentially in the quarter.

The company remains on track to launch Broadwell in 2H14. For the PC market, the company continues to see strength in the enterprise segment, but the consumer still remains weak. Emerging Markets are starting to improve at the consumer level, but the rest of the world continues to demonstrate weakness. Inventories were noted as being, “in very good shape” across the entire supply chain, both inside and outside the company.

Analysts have a consensus price target of $25.80 on Intel Corporation (NASDAQ:INTC) which indicates a 2.6% downside. The consensus rating of the stock is a HOLD with a score of 2.41. There are currently 15 Hold Ratings, 17 Buy ratings 1 Strong Buy rating and 4 Sell ratings on the stock.

The most recent analyst action consisted of Pacific Crests upgrading the stock from sector perform to Outperform, providing a price target of $31.

 

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