Should investors look forward to Intel's Q3?

In terms of bottom-line growth, the picture doesn't look so rosy. According to Earnings.com, Intel may earn something like 27 cents per share, which would be several pennies lower than the year-ago period.

Let's not fret, though. At the time of this writing, Intel was seeing a bid of $20.48 per share. Not bad at all, considering that the 52-week high is $20.65. The market is obviously very bullish on Intel's upcoming prospects. And it is expecting the company to win the analyst game.

Intel did a great job in the second quarter. On an adjusted basis, per-share profit demolished estimates. My thinking is leaning toward a positive report for the third quarter, one that traders might be willing to get behind.

Regular investors should be careful when it comes to doing an earnings trade at this late stage in the game. Admittedly, though, Intel is probably one of the better bets if you're seeking an after-hours-pop candidate.

With the stock so close to the 52-week high, I myself will be staying away. But if Intel is one of your favorite equities and you've been buying and selling the name a long time, then you might be comfortable with trying something here. Long-term investors will be fine holding the big-brand chip maker through the report and beyond.

Disclosure: I don't own any company mentioned; positions can change without notice.