Wall Street and Intel are a hard pair to figure out. Just ask Bernstein's Stacey Rasgon. Keep in mind that Intel had a terrific 2017, largely due to their aggregate costs dropping on CCG products as 14nm and its offspring depreciate and increase yield. The SKL-EP ramp will also help DCG. The big question will be how much AMD captured MSS, how the Meltdown issue continues to unfold, and how much 10nm obfuscation becomes too much for everyone to believe any more. SEC investigations will take longer. So, it could go any direction. Note that Intel reports on Jan 25 and AMD on Jan 30, so the volatility will be epic in the last week of January.
The only certainty is that SS and DB are two of the happiest execs in Silicon Valley.