Intel (NASDAQ:INTC) reported fourth-quarter earnings and full year earnings on Jan. 16. Shares sold off harshly, punishing Intel for missing bottom-line estimates. However, is that what investors should be concerned about from this chipmaking giant?

In this video, Tech and Telecom analyst Jamal Carnette argues that Intel's quarter wasn't as bad as Mr. Market's reaction. Some of this is due to Intel's large run up over the last three months. Recently, analysts and investors had turned bullish, with some comparing Intel's story to 2013's tech darling: Hewlett-Packard. From a fundamental basis, Intel performed well in the PC end markets, but experienced weakness in the data center. All told, Intel beat top-line estimates, but fell short on EPS projections.

While some of Intel's sell-off can be attributed by short-term, irrational investors, one thing should concern Intel investors in the long term: mobile. Although Intel has an audacious goal on being in 40 million tablets in 2014, investors should be concerned about execution risk here.

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Jamal Carnette has no position in any stocks mentioned. The Motley Fool recommends Intel. The Motley Fool owns shares of Intel. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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