Caris' Craig Ellis slashes his Q2 and 2012 estimates for Intel (INTC) after checks indicate Euro...

|About: Intel Corporation (INTC)|By:, SA News Editor

Caris' Craig Ellis slashes his Q2 and 2012 estimates for Intel (INTC) after checks indicate Euro PC sales growth is "tracking 250 bps or so" below prior expectations. That, along with a "lean inventory bias" among PC vendors, leads him to think there's "300-800 bps of downside risk" to Intel's 2H revenue growth. Baird and JPMorgan on Intel earlier this month for similar reasons, and others have also made downbeat assessments about near-term PC demand.