Piper's Gus Richard has cut his Q1 and 2013 estimates for Intel (INTC) below consensus today,...

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

Piper's Gus Richard has cut his Q1 and 2013 estimates for Intel (INTC) below consensus today, citing (what else?) weak PC sales. Having already digested plenty of bad industry data, the Street took the cuts in stride. One silver lining: Richard thinks servers are "having a seasonally strong quarter," and that the resulting benefit to mix will help Intel hit its Q1 gross margin guidance midpoint of 58% in spite of low factory utilization.