$Intel(INTC.US) Q1 EPS guidance $0.00 vs $0.08 expected looks terrible until you read the fine print: it's ALL supply, not demand.
Citi cut target to $48 but maintains Neutral. HSBC raised to $50 Hold. DBS Vickers says gross margins recover to 40% as yields improve.
This is a manufacturing problem, not a market problem. Fixable. Adding at $46.
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