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Intel shares have little room for upside: Pro

Investors should expect Intel earnings to come out largely in line with estimates when the chipmaker releases quarterly results after the bell on Thursday, according to Rosenblatt Securities Managing Director Brian Blair.

Wall Street projects earnings of 66 cents per share on sales of $14.7 billion, according to Thompson Reuters. Chances for upside, however, remain slim for Intel, Blair said. The company has taken market share from rival Advanced Micro Devices, but not enough for it to become a "needle mover," he added.

"There's probably a little bit of room for upside but it would be very slight," Blair told CNBC on Thursday.

The overall PC market declined about 2 percent in 2014 despite a slight uptick in the last quarter, he said.

Brian Krzanich, chief executive officer of Intel
Patrick T. Fallon | Bloomberg | Getty Images
Brian Krzanich, chief executive officer of Intel

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A big issue facing Intel remains its lack of presence in dominant smartphones and tablets. The company's chips power many low-cost notebooks, but they haven't made inroads in popular mobile devices, expect for Microsoft's Surface tablets.

As of now, Intel doesn't power Apple iPhones or Samsung smartphones, Blair said. Together Apple and Samsung control 39 percent of the space, according to market research firm IDC.

"The question in 2015 for Intel is do consumers and enterprise workers opt for these low-cost notebooks—some of which are fantastic—or do they move more toward the tablet side?" Blair said.