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10/06/21 10:53
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Tesla reported earnings of $1.19 per share after the US market close yesterday - four cents higher than analyst expectations. While revenue was at a record high it came in just short of the bullish expectations at $24.32 billion. Jeremy Naylor | Writer, London | Publication date: Thursday 26 January 2023 Tesla shares up on earnings Tesla shares rose 8% yesterday in extended trade on the IG platform, up a further notch higher by a margin of 5% on from what we saw during full trading yesterday. And this is as a result of earnings out late last night. Let's take a look at the figures. The electric carmaker reported earnings of $1.19 per share after the US markets closed. That's $0.04 higher than analysts expected. Revenue was just short of expectations at $24.32 billion. These are record numbers, according to the company. In a call to investors, CEO Elon Musk said he expected a pretty difficult recession this year for the US economy. But demand for Tesla vehicles, he says, will be good, despite a probable contraction in the automotive market as a whole, adding that absent external disruptions, 2023 deliveries could hit two million vehicles. Share price chart Overall, let's take a look at the share price chart. This stock is now up 51% from the lows that we had back in January and I'm talking January this year. So it's just shy of three weeks. That is a whopping increase. But you've got to bear in mind, the stock has fallen substantially from the record highs we saw back on the 4th of November 2021. We've lost 75.6% of overall value in Tesla. So this uptick here when you're looking at this sort of improvement from those lows, it is an incredible move in terms of percentages, but it's risen from $103 up to $152. So that's what we're opening this morning at 9:00 UK time, extended trade after that big gain yesterday on those numbers coming through from Tesla. -
Intel earnings are expected to collapse, but could the dire market forecasts provide the basis for outperformance? Source: Bloomberg Indices Shares Intel Market trend Revenue Technical analysis Joshua Mahony | Senior Market Analyst, London | Publication date: Thursday 26 January 2023 When will Intel report their latest earnings? Intel are expected to report their fourth quarter 2022 earnings (Q4) after market close on Thursday 26 January, 2023. What should traders look out for? Tech stocks have been in the firing line of late, with concerns over a spending slowdown bringing questions over elevated pricing multiples. This tech giant is no different, with both revenues and earnings expected to come in sharply lower than a year ago. There have been significant concerns over demand for Intel computers as the economic crunch brings a high likeliness that individuals and businesses hold off on upgrading their models for now. Notably, research from IDC highlighted a 28.1% collapse in global PC shipments in Q4, with an additional 5.6% decline expected over the course of 2023. The cost-cutting theme seen throughout the sector will likely come into play for Intel too, with the firm already pledging to cut $10 billion through to 2025. How quickly they can make those savings will be important for investors as it will improve the bottom line as demand heads lower. With 72% of the S&P 500 tech stocks that have reported thus far having beat earnings, and 78% beating on revenues, there is an argument that Wall Street has provided a low bar this quarter. Will that be the case this time around for Intel? Intel earnings – what to expect Revenue – $14.45 billion vs $15.34 billion (Q3 2022), and $19.53 billion (Q4 2021). Earnings per share (EPS) – $0.20 vs $0.59 (Q3 2022) and $1.09 (Q4 2021). Intel earnings – valuation and broker ratings Analysts are very mixed and cautious for Intel stock, with just four ‘buy’ or ‘strong buy’ recommendations out of 41. Of the remaining analysts, there are a whopping 25 ‘hold’ recommendations, and 12 ‘sell’ or ‘strong sell’ ratings. Source: Eikon Intel shares – technical analysis The weekly Intel chart highlights the collapse we have seen since the March 2021 peak, with price down 53% since that high. However, we have seen some stabilization for the stock of late, with price regaining ground from the $24.21 lows seen in October. A push up through the recent $31.33 peak would bring expectations of a wider rebound for the stock, confirming the creation of a higher low and fresh higher high. This upcoming earnings report should provide us with greater knowledge of whether that is possible or whether we are on the cusp of another bearish turn. The hope for the bulls will be that market predictions of a collapse in earnings and revenues will be overdone, allowing for outperformance despite declining numbers. Source: ProRealTime The daily chart highlights how price has managed to push up through all the Fibonacci levels, raising the likeliness that we are set for an upside break. Nonetheless, until resistance breaks, the risk of another turn lower remains. A move back through the $28.24 low would bring about greater confidence in a bearish continuation for the stock. Source: ProRealTime
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