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Buy Intel Before INTC Stock Rebounds Soon
Ahead of Intel’s (NASDAQ:INTC) recently posted third-quarter results, the stock rallied, in accordance with its tradition. INTC stock rose steadily from $52 to $56 ahead of its earnings, only to plunge and close below $50 after the results were released.To get more intel news, you can visit shine news official website.
Why did investors bet that Intel would beat analysts’ average expectations when the chip maker is falling behind its competitors? The giant used to sell premium processors. Advanced Micro Devices (NASDAQ:AMD) used to sell over-heated, under-performing processors at a discount.
In Q3, Intel’s sales climbed by a modest 5% year-over-year to $19.2 billion. Its Data Center unit benefited from the record quarterly revenue of both Mobileye and its Internet of Things Group. Despite Intel raising its full-year 2021 earnings per share outlook to $4.50 and providing gross margin guidance of 55%, investors dumped INTC stock.
Markets expressed disappointment in Intel’s nearly flat revenue growth. The trading volume of Intel’s shares has reached levels not seen since January.
There are reasons to be disappointed in Intel’s results. The world is facing an unprecedented chip shortage, yet Intel’s revenue growth failed to accelerate and its margins did not climb.On the other hand, Intel said that the demand for all of its unit’s products was strong. And all three of its main markets –PC, server, and Internet of Things – are expected to grow meaningfully going forward.
HP Inc. (NYSE:HPQ) reaffirmed Intel’s positive outlook. HP announced strong EPS, free cash flow, and will return at least 100% of its fiscal 2022 free cash flow to shareholders.
Dell (NYSE:DELL) traded at new 52-week highs as investors expected PC sales to be strong going forward. Dell’s VMWare (NYSE:VMW) spinoff is also helping its stock climb.