NEW YORK (TheStreet) -- The Dow Jones Industrial Average rose 1.5% Thursday but that didn't helpIntel (INTC) - Get Report. 

The Dow component's shares fell 4.75% after lowering first-quarter revenue guidance to $12.5 billion to $13.1 billion, down from a previous range of $13.2 billion to $14.2 billion. Management cited its weaker-than-expected PC business and currency woes as reasons for the softer results.

While the Windows XP upgrade cycle was once a catalyst for Intel, the PC slowdown is now hurting the company, said Chris Rolland, an analyst at FBR Capital Markets. Intel has too much inventory and investors may have been underestimating how well the company can do in the second half of 2015, he said. 

If Intel were to secure orders for Apple's (AAPL) - Get Report next iPhone, it would be a huge gain, Rolland added. He has an outperform rating on the stock with a $40 price target. 

Qualcomm (QCOM) - Get Report is another chip stock that's been hard on shareholders. It seems management is trying to "pull the cover over our eyes" with the recent $15 billion buyback program, potentially being used to distract investors from the company's somewhat bleak situation, said Guy Adami, managing director of stockmonster.com. For now, investors should avoid the stock because a pullback into the low $60s is possible. 

Micron (MU) - Get Report investors have also suffered, the stock down 17.5% in the past three months. However, if investors use a stop-loss at $26.25 the stock is worth owning at current levels, according to Steve Grasso, director of institutional sales at Stuart Frankel. 

Since the start of March, the euro has fallen 5% against the U.S dollar, an enormous move for currencies, so it's unlikely that it will only hinder Intel. Dan Nathan, co-founder and editor of riskreversal.com, says many companies with international exposure will likely see earnings fall as a result of the strong U.S. dollar.

Grasso agreed, adding the strong dollar could create a "tremendous headwind" for U.S. multinational companies and could also weigh on oil prices. This is forcing investors to assess their portfolios and very likely lighten up on their positions. 

Despite the dollar's rally, Brian Kelly, founder of Brian Kelly Capital, said he took off his long dollar positions because the rally seems too "euphoric." In the short term, the dollar can pull back, but it's likely to keep rallying in the long term.  

Even though stocks had a nice rally on Thursday, Adami says the markets are "not out of the woods yet." Bond yields seem likely to head lower, the euro looks like it's headed to parity with the U.S. dollar -- meaning $1 is equal to 1 euro -- and the "abysmal" retail sales numbers will prevent the Federal Reserve from raising interest rates. 

However, when interest rates do eventually rise, Grasso says investors should be long E-Trade Financial (ETFC) - Get Report and Charles Schwab Corp. (SCHW) - Get Report. 

Morgan Stanley (MS) - Get Report, JPMorgan Chase  (JPM) - Get Report and Citigroup (C) - Get Report all traded well on Thursday following the release of the Comprehensive Capital Analysis and Review results. However, one stock that didn't trade too well was Bank of America (BAC) - Get Report, Nathan said. 

If the financial sector rallies into next week's Fed meeting and the committee remains opposed to a rate hike for the time being, the bank stocks are likely to sell off, Nathan said. If this is the case, investors should sell struggling stocks like Bank of America. Adami said to stay long Goldman Sachs (GS) - Get Report into earnings. 

For their final trades, Grasso is a buyer of Disney (DIS) - Get Report and Kelly is selling the PowerShares DB USD Bull ETF (UUP) - Get Report. Nathan said to stay short the PowerShares QQQ Trust ETF (QQQ) - Get Report and Adami is buying Tiffany & Co. (TIF) - Get Report.

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