Amidst several notes cutting estimates for Intel , one fellow who's not too negative on the outlook for the chip maker is David Wong of Wells Fargo , who thinks PC trends are not as ominous as many think. Wong, who has an Outperform rating on the stock, and a $40 to $50 "valuation range," is modeling revenue in the June quarter of $13.2 billion, the mid-point of Intel's forecast, and he projects 52 cents a share in net income.