As What I posted on Oct 26th, I think INTC is very interesting right now, and INTC's earning proved what I was saying.
As reported, "Intel shares rose as much as 7% in after-hours trading Thursday even though the semiconductor giant gave a revenue outlook that suggested sales are slowing down heading into the end of the year. Intel (INTC) said that for its current, fiscal fourth, quarter it expects to earn $0.20 a share, excluding one-time items, on revenue of between $14B and $15B. That outlook suggests that Intel's (INTC) sales could fall as much as 31% from the fourth quarter of 2021.The company also lowered its full-year revenue estimate to a range of $63B to $64B, from an earlier forecast of $65B to
68B in sales. While its forecasts left something to be desired, Intel (INTC) reported third-quarter earnings that surpassed Wall Street's expectations. Intel said that it earned $0.59 a share, excluding one-time items, on revenue of $15.3B for the quarter ending September 30. Analysts had earlier forecast that Intel (INTC) would earn $0.33 a share on $15.3B in revenue. During the year-ago period, Intel (INTC) earned $1.45 a share on revenue of $18.1B. It was a rough quarter for Intel , as sales in its main business areas declined from a year ago. For its main business areas, Intel's client computing group, which includes sales of chips and technology for consumers and businesses, turned in revenue of $8.1B, down 17% from the third quarter in 2021, and data center sales of $4.2B, which fell 27%. Chief Executive Pat Gelsinger said in a statement that "despite worsening economic conditions," Intel "made significant progress with our product and process execution" during the quarter." The market is already celebrating the results (up 7%), but I see this as an oversold bounce that will fix itself. Mobileye Global Inc. has raised very little cash for the company and won't change trajectory of things. Look lower for a buy point and be prepared to say farewell to that fat yield!
HOLD INTC if you can!
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