Connect with us


Intel Stock Lower on Revenue Miss, Quarterly Outlook



Intel Corporation INTC stock news and analysis

Shares are buying and selling at their lowest degree since Might

Intel Corp (NASDAQ:INTC) inventory is 11.6% decrease to commerce at $31.04 ultimately verify. Although the semiconductor big’s first-quarter income beat expectations, income missed the mark. As well as, the blue chip’s current-quarter outlook got here in nicely beneath analysts’ estimates.

No fewer than 18 analysts reduce their worth targets in response, with the bottom coming from Wolfe Analysis to $29 from $31. The brokerage bunch is skeptical of INTC, with 29 of 34 companies in query calling it a tepid “maintain” or worse, however the 12-month consensus goal worth of $41.08 is a 33.1% low cost to present ranges. This implies there’s nonetheless room for added price-target cuts.

Choices merchants are chiming in as nicely, with 173,000 calls and 115,000 places exchanged up to now, which is six occasions the quantity sometimes seen at this level. The weekly 4/26 31-strike put, which expires on the shut, is the preferred contract. This means merchants count on extra draw back for INTC.

On monitor for its greatest single-day share drop since January, Intel inventory earlier gapped to its lowest degree since Might. Shares are down 37.6% in 2024, with the 20-day shifting common including downward strain.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *