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Intel (INTC) Stock Gains, Wells Fargo Sees 'Solid' Notebook Recovery

NEW YORK (TheStreet) -- Shares of Intel (INTC) were advancing in mid-afternoon trading on Monday as Wells Fargo maintained an "outperform" rating on the Santa Clara, CA-based technology company's stock, according to Barron's.

The firm said it is "positive" on the semiconductor industry in general as August sales data from Taiwan provided "further evidence of a solid seasonal rise" in PCs.

Intel could be a "significant outperformer" in the market during a recovery in global chip sales as the company still has a "reasonable valuation," the firm noted.

Rival semiconductor companies...