Two Ways: Intel Forges Back Into Phones
Strengthen your portfolio in good times and bad.
Intel Corp (INTC) is making another big push into the mobile phone industry. According to Bloomberg, the world's largest chipmaker will host a conference call today announcing its plans to provide processors to Nokia (NOK) for its production of mobile devices. Details are still unavailable, but some analysts are still excited over the news because Nokia is the world's largest maker of mobile phones.
Just last February, Intel said it landed a contract with LG Electronics, the third largest phone-maker in the world. CEO Paul Otellini scrapped his predecessor's $5 billion investment into the field in 2006 after he felt the company was late to the market. Now, he's attempting to make the push back into phones to lessen Intel's dependence on computers, which account for approximately 90% of sales.
From the Bull Pen: For those that like Intel, the big support is at $15 which also coincides with its 200 DMA. A sell stop can be set below that level.
From the Bear Cave: Increased competition is making it very tough for Nokia. And the headwinds could get stronger should the economy turn lower. Those currently playing the downside can set a short term buy stop above yesterday's high ($14.50).
Quick Check Around the World
Asian trading closed with the Hang Seng -2.89%, India -0.02%, Shanghai -0.12%, Nikkei -2.82%, and Taiwan -2.27%.
Glancing towards Europe, we see the FTSE 0.40%, CAC 0.01%, DAX 0.58%
As of 8:10 AM EST, S&P Futures are trading +4.3 to 892.90 and Nasdaq futures are +4 to 1432.00.
A Look at Commodities
Over in commodities, crude oil is trading +0.09 to 67.59 while gold is +3.40 at 924.40 this morning. Silver is +0.100 to 13.80 and copper +5.05 to 218.25.
The dollar index is -0.395 to 80.7500.
On the Radar
10:15 Existing Home Sales 4.83m cons
Click here to see the full trading radar.
Good luck today!
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