NEW YORK (TheStreet) -- Intel (INTC) stock is surging after the chipmaker revised its second-quarter guidance higher than previously expected. The company now expects revenue between $13.4 billion and $14 billion.
Previously the company had expected $12.5 billion to $13.5 billion and analysts surveyed by Thomson Reuters had forecast $13 billion. The company said it is seeing stronger business PC demand.
In morning trading, shares are up 6.5% to $29.76. Trading volume of 29.2 million shares exceeded its three-month trading volume of 25.4 million.
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TheStreet Ratings team rates INTEL CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate INTEL CORP (INTC) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."