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.
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.
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.
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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