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Intel to rally 16% this year as earnings beat expectations, Pacific Crest says

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Intel Corp. CEO Brian Krzanich
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Pacific Crest reiterated its overweight rating for Intel shares, saying the chipmaker's earnings for the December quarter will beat Wall Street's consensus estimate.

The company will report fourth-quarter results on Thursday.

Intel's "CCG [client computing group] should drive Q4 results to be at the higher end of guided range," analyst Michael McConnell wrote in a note to clients Sunday. "Secular growth trends remain intact in DCG [data center group] ... with revenue growth reacceleration likely in 2017."


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