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Actionable news in INTC: Intel Corporation,

Why Intel Belongs In Your Portfolio Ahead of Earnings

NEW YORK (TheStreet) -- Investors who are looking for solid company to bet on for the next 12 to 18 months have to consider Intel (INTC - Get Report) , the world's largest semiconductor company. Ahead of its third-quarter 2015 earnings results Wednesday, there's an implied 25% gain on Intel stock, which has a consensus buy rating and an high analyst 12-month price target of $40.

Intel shares, currently trading at around $32, are cheap too. The stock has been in negative territory for most the year, down almost 11% in 2015 and down 4% the past 12 months. Given Intel's ties to the slumping sales of personal computers, it would seem investors have abandoned the Santa Clara, Calif.-based tech giant for better opportunities. But with shares trading at just 12 times earnings, against a P/E of 21 for the S&P 500 (SPX) , Intel shares are too cheap to avoid.

Indeed, slumping sales of personal computers, which have been surpassed by mobile devices and...