Intel stock slides more than 5% on disappointing Q2 revenue outlook

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Shares of Intel (INTC) are lower in after-hours trading on Thursday after the company posted its first-quarter earnings, revealing a revenue of $12.72 billion, a gain of 8.8% year-over-year. Revenue narrowly beat estimates of $12.71 billion, however, the company missed out on estimates for its second-quarter forecast, placing revenue between $12.5 billion to $13.5 billion against an expected $13.63 billion.
While Intel may be down, some still believe the chipmaker is certainly not out.
The Futurum Group Chief Market Strategist Cory Johnson joins Market Domination Overtime to discuss Intel's earnings and how the company may still be able to turn it around.
Johnson elaborates on why Intel is in such a strong position:
"They have received more money from the CHIPS Act than anyone else out there, so they are in a really strong position building out their facilities all over the country, particularly in Columbus, Ohio... They are clearly pushing ahead really fast... that is good for the foundry business... The foundry business ultimately is going to be very difficult to do, but they're pushing ahead at really having cutting-edge foundry services and as you mentioned, in the angstrom levels at the real cutting-edge, which we haven't had in this country for many, many years."
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Опубликовано:

24 апр 2024

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Комментарии : 44

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@johnc4789 Месяц назад

Government giving the CHIPS Act funds to Intel is like throwing pearls to swine. Intel has for decades not shown any initiative to become anything else but a low cost PC chip maker. About 30 years ago they developed a parallel processing machine learning chip (ETANN), but failing to understand the future they shelfed that development. With the CHIPS Act funds Intel should at least replace the top management that has failed to renew the company.

@cyrc445 Месяц назад

Claimed to catch up with TSMC in 2024 ...

@user-ov8sv9ns5l Месяц назад

At this price level, Intel should seriously consider share buyback

@mooboo6603 Месяц назад

Lol they would need free cash flow

@user-ov8sv9ns5l Месяц назад

Rally behind to sack CEO then

@user-ov8sv9ns5l Месяц назад

So the CEO is a joke

@seriatim8527 Месяц назад

They have lost patience with Intel, but they are still bullish on Boeing! Amazing.

@thomasbaess3986 Месяц назад

Amareurs- when is the management group exchanged?

@thetradersam6157 Месяц назад

Nvidia products are overpriced, not everyone needs a $24K GPU, Intel products are very close in performance to Nvidia's and AMD. agreed, It will take a year or two for INTEL to turn around and the CHIP act is a blessing for Intel, Uncle Sam got this!!

@goldguilder9554 Месяц назад

Markets are bouncing back

@kclyt07 Месяц назад

Intel foundry is way behind of TSMC in terms of process technology, yield, volume, etc. It's like differences of major and minor leagues.

@tooltalk Месяц назад

Bye bye Intel!

@Chi.oakley Месяц назад

🔗

@javastream5015 Месяц назад

Always ?😂

@rarirover44 Месяц назад

china dnt want your transgen chips😂😂

@mooboo6603 Месяц назад

Well that's a creepy "always" to open with haha

@briantep458 Месяц назад

lol that was definitely weird

@DJDinnerPlaTe Месяц назад

😂 classic

@MatthewMS. Месяц назад

Intel hasn’t been competitive since the 90s. They fill a role in tech but to anyone that thinks Intel or AMD can compete with Nvidia is tomfoolery

@kamenidriss Месяц назад

Guy looks drunk?

@eyelovecolorado2195 Месяц назад

I think it’s weed 😂😂

@B_knows_A_R_D-xh5lo Месяц назад

intel is okay but no.. NVIDA is best and or other companies.. Intel uh .... NO!! investors may need to trade intel shares lol there not hurting my bottomline.. no investment on buying threre shares will ever come. NVIDA! YES

@SyamuNekoSan 3 дня назад

But NVIDIA and AMD didn't create their own chips, they buy from TSMC and Samsung, in a possible war and invasion of Taiwan or resuming Corea war, Intel must to catch up TSMC to guarantee a stable semiconductors supply