JPMorgan believes Intel will outperform Texas Instruments in 2010

The firm notes better end demand and sees a decline in TXN's lead times and risk to TXN from the exit of its baseband business. JPMorgan continues to prefer TXN over INTC over a 3-to-5 year timeframe. Both stocks remain rated neutral. INTC target is $17; TXN target is $21.