Intel Corp (INTC)

[techno_bull]

Following those previous drops the compelling part had been that 'INTC must once again trade at an 18 PE', so we kept saying the stock must be cheap. But now I believe that we can throw out the 'compelling PE' argument and that the 'compelling yield' argument will provide a floor for the stock at around $12. I'm not making a general call that all stocks with >%4 yield have a floor under them. Just that I believe INTC with no exposure to the credit markets and yielding >4% has a floor under it, IMO.