INTC pricing in? NEW YORK -- Intel Corp. (INTC) was aggressive in its third-quarter revenue projection and may have to lower it during the company's mid-quarter update late Thursday, analysts warned in different research notes Tuesday.
Morgan Stanley and Prudential Equity Group both believe the Santa Clara, Calif., computer chip giant will lower the midpoint of its third-quarter revenue forecast, citing a variety of reasons including a weaker flash memory business and lower PC demand. Merrill Lynch expressed doubt about Wall Street's average earnings estimate. Bear Stearns, meanwhile, offered a more optimistic take on the update.
The analysts' cautious tone took its toll on Intel shares, which recently traded down 60 cents, or 2.8%, to $21, on volume of 37.5 million. Average daily volume is 61.7 million shares.
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