- PC motherboard shipments were better than expected in May, writes BMO's Keith Bachman. whose firm upgraded Intel (INTC +1.5%) to Outperform in January out of confidence in Brian Krzanich's strategy changes.
- Bachman also sees motherboard shipments rising 6% in June - slightly better than the 5% averaged over the last 3 years.
- PC shipment declines have been gradually slowing. IDC estimates shipments fell 4.4% Y/Y in Q1, better than Q4's 5.6% drop and Q3's 7.6%. But it still sees a 6% 2014 shipment decline, thanks to a 10.4% emerging markets drop; higher-ASP "mature markets" are expected to be flat.
- Shares are making new 52-week highs. They currently go for 15x 2014E EPS, and 14x 2014E EPS.
From other sites
Video at CNBC.com (May 20, 2015)
at CNBC.com (May 18, 2015)
at CNBC.com (May 14, 2015)
Video at CNBC.com (May 12, 2015)
Video at CNBC.com (May 11, 2015)
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