Why Intel Stock Is Plunging Today
(NASDAQ: INTC) stock is seeing big sell-offs Friday following the company's first-quarter report. The company's share price was down 7% as of 2:45 p.m. ET and had been down as much as 10% earlier in the session.
Intel's sales and earnings results in the first quarter actually came in significantly ahead of Wall Street's expectations, but it looks like near-term performance will be uneven. The company issued soft forward guidance, and the significance of its Q1 performance beats was negated by a weaker outlook in the face of macroeconomic challenges and uncertainty on what its foundry strategy looks like.
Intel's non-GAAP (adjusted) earnings per share of $0.13 on revenue of $12.67 billion came in significantly ahead of the average analyst estimate's call for per-share earnings of $0.01 on sales of $12.3 billion. But it looks like trade war dynamics and general macroeconomic uncertainty may have caused customers to pull orders forward, and management's near-term guidance is spurring big sell-offs for the stock.
Source Fool.com
Intel Corp. Stock
Currently there is a rather negative sentiment for Intel Corp. with 8 Buy predictions and 14 Sell predictions..
A slightly negative potential of -4.98% at a current price of 20.0 € for Intel Corp. is the result of a target price of 19 €.
