Jump to content

Intel shares tumble after downgraded outlook


MongiIG

Recommended Posts

Both earnings and revenues, in Q4, were a disappointment for Intel. As a result, its stock fell last night, but the downside then accelerated after the company confirmed the outlook for the first quarter of 2023 was equally poor.

 Jeremy Naylor | Writer, London | Publication date: Friday 27 January 2023 

Intel shares drop

The world's largest chipmaker Intel saw its fourth quarter (Q4) published last night and shares fell more than 8% as a result.

The chipmaker published fourth quarter results that failed to meet estimates and gave a weaker than expected outlook. Earnings per share (EPS) were 10 cents against an adjusted 22 cents forecast. Revenue was €14.4 billion against €14.5 billion expected by analysts, with revenue falling 32% year-on-year (YoY) in the fourth quarter, which is the fourth consecutive quarter of falling sales.

As the market for personal computers shrank from the Covid lockdown boom, investors can expect more pain in the first quarter as well. According to the announcement last night, Intel estimates that first quarter adjusted net loss will come in at 15 cents per share. Earlier estimates had been for 24 cents.

Share price chart

Let's take a look at the share price chart and the move that we saw in yesterday's trade. A really big, heavy candle on the way down.

On revenues €10.5 billion they're looking for, between €10.5 and €11.5 billion in the first quarter, forecast recently €13.9 billion in revenue, so pretty much every single metric on the way down for Intel.

I want to show you the long-term picture to show you where it's come from with these highs back here on the 8th of April last year, we've lost 64% of value. Since then the stock has gained 24% but you can see that quite a sizable chunk of that has been eradicated with this drop that we've seen in shares as of last night's trade all-sessions on the IG platform.

We're expecting to open down around about 5- or 6% at the start of the day's trade when things get underway on Wall Street a little bit later on today. But the trade late last night, $27.17 a share.

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • Sounds like you are looking at the ask price, or the mid price. I don't have access to the 10sec data at that time, but the 1 minute candle had a low at 7947.7. Ask low was 7954.7. So I guess you had a long position; in this case look at the bid price to see what is going on.
    • What really caught my eye about ChatAI is the way it aims to go beyond the limitations of traditional social media platforms. Instead of relying on text-based or voice-based interactions alone, this project is designed to support multimodal communication, allowing users to engage through a variety of formats like text, voice, and images. ChatAI is positioning itself as a revolutionary social application that combines advanced AI capabilities with the power of decentralized technology. The core idea is to open up a new era of social interaction by leveraging cutting-edge natural language processing (NLP) to enable smooth and efficient communication. But it's not just about the technical capabilities - ChatAI also seems to have a strong focus on personalization and continuous learning. The platform is built to continuously optimize its performance based on user data, adapting to individual preferences and enhancing the overall user experience over time. I was really excited to hear the news that the ChatAI (CHATAI) token is now listed on the Bitget cryptocurrency exchange. As someone who is deeply interested in the intersection of artificial intelligence, web3 technology, and social media, this listing feels like a significant milestone for the project.
    • I could remember what happened to Binance & kucoin. This might be another slap in the face of SEC but who knows, let's see how this unfolds. 
×
×
  • Create New...
us