From Nasdaq.: 2024-05-01 18:51:17

Intel Corp (INTC), valued at $129 billion, is a leading chipmaker specializing in microprocessors for various devices. INTC stock has plummeted 39.5% this year, making it the worst performer on the Dow Jones Industrial Average and the S&P 500 Index.

In disappointing Q1 results, Intel reported revenue of $12.72 billion, falling short of estimates, with EPS at $0.18. Free cash flow was negative $6.18 billion, but gross margin improved. Q2 guidance fell below expectations.

Intel’s transition to a new operating model included the introduction of Intel Products and Intel Foundry. The company expects Foundry’s margin to improve post-2024. Intel recently secured a contract with the Department of Defense, solidifying its position in the aerospace and defense sector.

Analysts have lowered their targets for INTC, with concerns about the company catching up to competitors like Nvidia and AMD. Price targets have been adjusted down, but the mean price target still suggests a 36.8% upside potential. Overall, analysts give INTC a “Hold” rating.



Read more at Nasdaq.: Down 39% YTD, Is It Too Early to Buy the Dip in Intel Stock?