What to Expect From Intel Earnings
Intel posted strong earnings for the previous quarter and there are hopes for a repeat performance, but the price of the stock has been hit hard.
Intel Corp. (NASDAQ: INTC) is set to report its earnings Tuesday after the market closes. This processor leader and semiconductor giant posted strong earnings for the previous quarter. There are hopes for a repeat performance, but the price of the stock has been hit hard with the market and with Microchip Technology’s revenue warning last week.
Thomson Reuters has consensus earnings estimates of $0.65 per share and $14.44 billion in revenues. This would compare to the previous year’s third-quarter earnings of $0.58 per shares and $13.48 billion in revenues. Estimates for the fourth quarter are $0.62 in earnings per share and revenue of $14.47 billion.
Intel has traded Monday morning at $32.20. In the weeks ahead of this earnings report, the stock made a significant jump of 9.3% to $34.42 on July 16 from the previous close $31.50, after the second-quarter earnings were reported. Closing prices held within the range of $33 to $35 following the previous earnings, and the share price had made no large shift until Friday, when it fell 5% to $31.91.
The 200-day moving average is still well below the current share price — down at $28.71. In late September the share price crossed under the 50-day moving average, which now reads at $34.24, and the 50-day average had acted as resistance for a week or so prior to the latest selling pressure.
Shares of Intel have a consensus analyst price target of $ 34.36 and a 52-week trading range of $23.03 to $35.56. Intel has a market cap of $159 billion.
SEE ALSO: Wells Fargo Defends Chip Sector, While Seeing Risks, Ahead of Earnings
Contact [email protected] for any questions or corrections.
Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
