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NEW YORK (TheStreet) -- Intel Corp. (INTC) stock is falling by 0.78% to $32.45 in afternoon trading on Thursday, after analysts cut their earnings estimates on the Santa Clara, CA-based chipmaker because of weak personal computer sales.

In a note released before today's market open, BMO Capital Markets lowered its earnings per share estimates to $2.13 from $2.20 for 2016 and to $2.53 from $2.63 for 2017.

"Our latest checks suggest that notebook builds are likely going to finish the quarter at down 23% q-q, while motherboards are going to come in at around a 10% decline q-q," analysts explained. "This suggests that our assumptions for client [micro processing units] for Intel at down 10% q-q are too high."

For the fiscal 2016 first quarter, Intel's revenue is expected to fall at the lower end of guidance of $13.6 billion to $14.6 billion, representing a 9% decline compared with the fiscal 2015 fourth quarter, analysts added.

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Separately, Intel has a "buy" rating and a letter grade of B at TheStreet Ratings because of the company's revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, solid stock price performance and expanding profit margins.

You can view the full analysis from the report here: INTC

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author. 

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