A long position in Intel Corp (INTC) was initiated yesterday as the company's shares moved up nearly 4% to $22. There has been speculation that Intel is preparing to pre-announce a positive upward revision of earnings for the current quarter and forecast for the remainder of 2010 on the sustained recovery in semiconductor demand. The company's Q1 earnings were scheduled for release on April 13th.
At the Q4 results, the company forecast Q1 revenue's of $9.7 billion, with potential upside of $400 million, with gross margin of 61%, plus or minus two points. Analysts estimate earnings of 37 cents on $9.79 billion in revenue with a top range forecast of 40 cents.