News
James B. Bell
- October 26, 2023
Intel, a major computer-chip maker, will be the first company in its industry to announce its third-quarter financial results after the market closes. However, concerns about potential profit margin risks for next year have emerged on Wall Street.
Analyst Consensus
According to FactSet, analysts anticipate that Intel (ticker: INTC) will disclose revenue of $13.6 billion and adjusted earnings of 22 cents per share for the September quarter. Looking ahead, analysts estimate that the company will achieve revenue of $14.4 billion and earnings per share of 33 cents for the current quarter.
Analyst's Warning
Bernstein analyst Stacy Rasgon recently reiterated his Market Perform rating on Intel's stock, along with a price target of $34. He expressed concern about the chip manufacturer's profitability next year, particularly due to weak demand for its data center server chips. Rasgon predicts an earnings per share figure of $1.53 for 2024, which is lower than the Wall Street consensus of $1.74.
Stock Performance
On Wednesday, Intel shares experienced a 5.1% decline to reach $32.83. However, over the past year, the stock has seen a 20% increase.
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