Susquehanna cautious on Intel going into Q2, citing 'deteriorating PC demand'
Justin Sullivan

Intel (NASDAQ:INTC) shares rose on Tuesday, even as investment firm Susquehanna lowered estimates going into the second-quarter, citing worries over "deteriorating PC demand."
Analyst Christopher Rolland now expects the company to earn 69 cents per share in the second-quarter and $3.34 for the full-year, down from a prior outlook of 71 cents and $3.60, respectively. There's also concern over whether Intel (INTC) will generate $18B in sales, as the company guided to previously. 
"If indeed revenues are light, perhaps they felt they did not technically miss the bottom end of the range (because none was given), and therefore management did not feel compelled to preannounce," Rolland wrote in a note to clients, adding that Intel (INTC) management recently added some negative commentary to the mix.
Intel (INTC) shares rose more than 1% to $39.11 in premarket trading. 
A consensus of analysts expect Intel (INTC) to earn 52 cents per share on $17.95B in revenue.
In addition, Rolland noted that Intel (INTC) is facing a difficult comparison, as the 14th week was in the first-quarter, compared to the second-quarter last year and the work-from-home PC hangover thesis is starting to accelerate, as PC sales slow.
Last week, Seeking Alpha confirmed that Intel (INTC) has started to raise prices on its chips as a result of rising cost pressures.