Intel Corp. (INTC - FusionIQ Master Technical Rank 11) blew away Wall Street revenue and EPS expectations for Q2, however gross margins were a bit lower than forecasted. Why? Greater demand for cheap laptops, which include cheaper chips. The company did however give solid guidance for Q3. Intel CEO Paul Otellini said in a statement, "As we enter the second half, demand remains strong for our microprocessor and chipset products in all segments and all parts of the globe."
While this news is seemingly bullish, with a FusionIQ Master technical rank of only 11, INTC shares are likely to be viewed as nothing more than a trading BUY as opposed to a long term secular BUY at this point.