Computer processor maker Intel (NASDAQ: INTC) will be reporting earnings this Thursday after the bell. Here’s what to look for.
Intel beat analysts’ revenue expectations last quarter, reporting revenues of $16.13 billion, up 25.4% year on year. It was an incredible quarter for the company, with a significant improvement in its inventory levels and a beat of analysts’ EPS estimates.
Is Intel a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Intel’s revenue to grow 20.3% year on year, improving from the 2.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Intel has a history of exceeding Wall Street’s expectations.
Looking at Intel’s peers in the semiconductors segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Penguin Solutions delivered year-on-year revenue growth of 67.7%, beating analysts’ expectations by 8.8%, and Western Digital reported revenues up 55.5%, topping estimates by 5.2%. Penguin Solutions traded up 13.1% following the results while Western Digital was down 3.4%.
Read our full analysis of Penguin Solutions’s results here and Western Digital’s results here.
In the last year or so, investors have shifted their focus from one macro dynamic to the next (AI disintermediation and AI investment to geopolitical conflict, interest rates, and the health of the wider economy). While some of the semiconductors stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 8.3% on average over the last month. Intel is down 18.9% during the same time and is heading into earnings with an average analyst price target of $117.71 (compared to the current share price of $94.12).
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