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Eric Savitz (Barron's) submits: A little something for the Intel (NASDAQ:INTC) bulls this morning, and a little something for the bears.

Tim Luke, the semiconductor analyst at Lehman Brothers, this morning raised his expectatons for the company third quarter. He now sees revenue up 9% from the third quarter, rather than the 7.5% growth he previously anticipated. Profits, he says, should come in at 17 cents a share, a penny higher than his previous estimate. Likewise, he boosted his full year 2006 projection to 78 cents a share, from 77 cents. In a research note this morning, Luke says he would expect the company’s share to edge higher ahead of the Intel Developers Forum next week in San Francisco. Luke maintains a neutral rating on the stock, however.

On the other hand, Thomas Weisel Partners this morning trimmed its rating on Intel to Peer Perform from Outperform, according to Reuters, “citing market share shifts due to less than optimal product mix from the company in the coming quarters.”

Intel shares this morning are up 16 cents at $19.67. Meanwhile, AMD is up 62 cents to $27.15.

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Source: Two Takes on Intel