Intel follows market higher post-earnings; servers, mobile, margins in focus

After opening slightly lower, Intel (INTC +0.9%) is rising on an up day for equities in the wake of a Q3 beat that was accompanies by healthy margins, light Q4 guidance, another capex cut, cautiously optimistic PC industry commentary, and news of a Broadwell manufacturing delay. B. Riley's upgrade could be helping.

Jefferies (Buy) likes the fact Intel's enterprise PC CPU sales are stabilizing,. The firm remains optimistic about Intel's long-term ability to use its manufacturing edge to take mobile share, as does FBR.

However, Needham (Hold) doesn't like the Q4 guidance and the Broadwell delay. The firms also claims Intel's server CPU sales still missed its Q3 estimate by $100M, and thinks the business could come short of a company target for 10%+ 2013 growth.

Brian Krzanich mentioned on the CC Intel's NAND flash sales rose 20% Y/Y, and promised Q4 will see the launch of $99 Atom tablets, $349 Atom convertibles, and $299 low-power Haswell notebooks. His remarks come as Lenovo (LNVGY.PK) launches the Miix, an $299, 8", Bay Trail/Windows 8 tablet that has Office Home and Student 2013 built-in.

CFO Stacy Smith admitted Intel's mobile processor push will impact ASPs, but also declared Bay Trail to have "a much better cost structure" than Intel's low-end Celeron CPUs.

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