Intel Corp (INTC)

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This news that we all knew here.
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his morning it was reported that an upcoming Galaxy Tablet by Samsung will feature a processor built by Intel (Nasdaq: INTC). The win is a blow to ARM Holdings plc (Nasdaq: ARMH), which usually powers Android devices.
The news is providing bulls with new ammunition, and some say this could be the tip of the iceberg for Intel's growing mobile presence. Checks by RBC suggest further traction in mobile is on the way, a realization that could catch many investors by surprise.
Commenting, analyst Doug Freedman said, "The data point is in support of our thesis that Intel's mobile presence, which is currently being discounted in the marketplace, will become increasing visible on 32nm Clover Trail+, ahead of its move to leading-edge 14nm in 2014. We highlight this is particularly encouraging given that we expect Bay Trail 22nm to be more significant than Clover Trail+ based on its performance lead."
"Even marginal upside from handset revenues should push the applied multiple higher, as it shows that Intel's bet on x86 against ARM is finally making in-roads," added the analyst.
RBC has an Outperform rating on Intel with a price target of $29.
For an analyst ratings summary and ratings history on Intel (Nasdaq: INTC) click here. For more ratings news on Intel click here.
Shares of Intel closed at $24.21 yesterday, with a 52 week range of $19.23-$27.75.
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