Intel Earnings Miss
Intel Corporation, the chip giant, has reported its Q4 2022 earnings, which missed anlayst’s expectations. The company is also guiding for an adjusted loss of $0.15 per share in Q1, while the consensus analyst earnings estimate was looking for a profit of $0.25 per share. The chip industry is struggling with slowing consumer and enterprise demand. Intel is facing a steep drop in consumer PC sales, as shoppers choose to hold on to the laptops and desktops they over the last few years for use under lockdowns. The fourth quarter PC shipments for world markets declined 28.5%, which is the biggest decline since the firm started following shipments in the mid-1990s. Intel’s Client Computing Group was mostly affected in the quarter, with revenue declining 36% from last year, from $10.3 billion to $6.6 billion. Intel’s Datacenter and AI business were also substantially down, with revenue declining 33% from last year, from $6.4 billion to $4.3 billion. Intel’s stock, like most Tech stocks was hit pretty hard in 2022, which saw the stock of Intel drop by over a 42%. Intel is in the midst of restructuring, as management tries to restore stability back to the business, in order to restore the company back to prominence within its industry.
INTC Stock Forecast & Analysis
According to analysts’ forecasts, the average target price for Intel Corporation’s stock is $33.62 over the next 12 months, and the average analyst rating is “hold”. However, Stock Target Advisor’s own analysis of the company is “slightly bearish”, based on a combination of positive and negative signals. Over the past year, Intel Corporation’s stock price has decreased by 41.76%.
About Intel Corporation
Intel Corporation is an American multinational corporation that is known for designing and manufacturing microprocessors, which are the central processing units (CPUs) of computers. Founded in 1968, the company has its headquarters in Santa Clara, California. Intel is one of the largest and highest valued semiconductor chip makers in the world, and is the inventor of the x86 series of microprocessors, the processors found in most personal computers. The company also develops and sells other technology and communications components.