NEW YORK ( TheStreet) -- Semiconductor giant Intel ( INTC) will report second-quarter earnings on Wednesday, July 17. Although it's not ground-breaking news to suggest that the company has fallen out of favor with Wall Street, it still seems that many investors are discounting the progress that Intel has made in the realm of mobile.Although Intel does rely on the PC market for a significant portion of its revenue, the company's mobile advancements, albeit modest, are a step in the right direction. I'm not suggesting that rivals such as ARM Holdings ( ARMH) and Qualcomm ( QCOM) should start worrying about market share. But for investors with patience, Intel can still provide solid gains with each small step. One of these small steps was taken recently when Samsung announced that it had chosen Intel's Clover Trail+ mobile chip processor to power a its Galaxy Tab 3, which is based on Google's ( GOOG) Android platform. Although this would certainly be a great win for Intel, the news was dampened by new rumors that Apple ( AAPL) had decided not to use Intel chips in new versions of its iPhones and iPads.