The semiconductors sector may be nearly 8 percent lower this year, but a bright spot for investors in this space could be Intel.
The California-based chipmaker is due to report third-quarter earnings Tuesday after the bell, and several analysts expect it to at least meet Wall Street's estimates for a number of reasons. Wall Street expects earnings per share of 59 cents on revenue of $14.22 billion, according to a Thomson Reuters consensus estimate.
"We're starting to see more PC stabilization [at Intel]," said Ian Ing, executive director at MKM Partners.
PC sales have plummeted recently, falling 10.8 percent in the third quarter, according to research firm IDC.
"However, we think INTC was early to fully destock, compared to broad-based semis, as INTC's expensive CPU chips are an area of focus to deplete inventory and improve the cash conversion cycle," Ing said in a note.