Interesting silver lining, but my concern is that the bears may attribute the lower forecast to other things besides HDD shortages. My guess is that we'll see downgrades based on further tablet cannibalization concerns, demand for PCs falling, etc. Intel could also guide towards a strong 2012, but some of the analysts will call B.S. and regurgitate their tablet dogma.
Beating revenues and growing quickly was Intel's blunt weapon for disarming the theories of the peanut gallery. They may be able to point to the HDD shortage and assert that there will be brighter future, but it gives just enough uncertainty over the underlying cause that the pundits can continue their FUD.
I think this set Intel back by another year on a $30 stock price resurgance.
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