Suddenly, Everyone Hates Intel Stock (NASDAQINTC) Again, but You Shouldnt Yahoo Finance
News Source : Yahoo Entertainment
News Summary
- Moreover, Wall Street called for Intel to post Fiscal Q4-2023 earnings of $0.45 per share, but the company actually earned $0.54 per share.After INTC doubled from $24 and change to $50, you might assume that Intel’s Street-beating quarterly results would send the share price higher..
- Yet, Intel didn’t deliver the “raise” part of the beat-and-raise combo that people expect nowadays.Specifically, Intel provided a current-quarter revenue guidance range of $12.2 billion to $13.2 billion, while analysts’ consensus forecast called for $14.2 billion in revenue..
- Don’t be frustrated at the market’s wild mood swings, though, since irrational behavior leads to volatility, and volatility leads to opportunity.INTC stock is down 12% today, even though there are multiple positive news items to report..
- Furthermore, Rasgon’s $42 price target and Roy’s $45 price target aren’t particularly optimistic.Think about it – Intel stock would have to go practically nowhere for the next 12 months in order to land at those price targets..
- In addition, whereas Wall Street forecast adjusted Fiscal Q1-2024 earnings of $0.32 per share, Intel’s management only guided for $0.13 per share.In light of this, a number of analysts have turned cautious on INTC stock..
- All of this could just be a setup for another earnings beat and more optimistic guidance in a few months.It’s difficult to envision a good outcome when the market’s sentiment is so negative about Intel..
It seems like everyone and their uncle hate Intel (NASDAQINTC) today. This is a sign of how fickle the market can be, but I encourage you to look at the big picture and make your own decisions. When [+5023 chars]