PC market slump, will Intel face another bleak financial report?
According to FactSet's data, analysts generally expect Intel's first-quarter revenue to reach $11.01 billion, with an adjusted loss of 16 cents per share. Analysts estimate second-quarter revenue to be $11.14 billion, with earnings per share of 90 cents.
On Thursday after the US stock market closed, Intel will release its first-quarter financial report. However, the results expected by Wall Street are not ideal.
Intel has fallen 36% in the past 12 months.
Weak PC demand
According to FactSet's data, analysts generally expect Intel's first-quarter revenue to reach $11.01 billion, with an adjusted loss of 16 cents per share.
Analysts estimate second-quarter revenue to be $11.14 billion, with earnings per share of 90 cents.
Intel is going through a difficult period.
In recent quarters, demand for personal computers has worsened.
Research firm International Data Corporation (IDC) said that global personal computer shipments fell 29% year-on-year in the first quarter of this year. In the fourth quarter and third quarter of last year, they fell 28% and 15% year-on-year, respectively.
Analysts
Earlier this week, Stifel analyst Ruben Roy reiterated his "hold" rating on Intel's stock.
The reason is that he expects Intel's performance for the rest of the year to be disappointing, with a target price of $28.
He wrote: "Our forecasts for 2023 and 2024 are still below the general consensus."
The analyst cited previous comments from Intel management that the weak macro environment will last at least until the second quarter.
