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Buy Intel as a data center cloud play: Susquehanna

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Investors should buy Intel due to strong cloud growth in its data center business, according to Susquehanna, which initiated coverage on the chipmaker with a positive rating.

"We view Intel as more than just a PC company, and alternatively as a 'Moore's law' company with its ability to extract value through process leadership and the best wafer manufacturing in the world," analyst Christopher Rolland wrote in a note to clients Monday.

"Furthermore, we recognize a large economic transfer from their PC end market to their Data Center Group, driven by explosive cloud, carrier (NFV & SDN) and HPC expansion."