At these levels, I am a buyer of Intel (INTC) stock. You can pick up shares now for around 13.24/share. I realize Intel is reporting earnings on January 15, 2009, but Intel already warned the street that earnings would be below expectations. Unless things have changed substantially in the last week, it's hard to see any surprises happening tomorrow. No surprises is usually good for a company's stock price. Intel appears to have around 10 billion dollars in net cash, and its 4% dividend may prevent a deep slide in its stock price. On the other hand, options contracts relating to Intel stock expire on January 16, 2009, so expect short-term volatility.
Update: two analysts disagree with me--they have price targets of 11.50 and 10 dollars. Intel closed trading today at 13.08/share.
Disclosure: I own Intel shares and recently bought more Intel shares.
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