On Thursday after the close, Intel released upbeat earnings that met and in some cases beat estimates for the quarter. They reported $17 billion in total revenue, $5.01 billion in net income and $1.05 a share in earnings versus $14.8 billion in revenue, $2.81 billion net income and 58 cents a share last year for the second quarter.
These are huge numbers for the company but quarterly revenue growth was below analysts consensus and the outlook for data-center growth was brought in-line with the estimates by analysts when it was originally above their estimates. Earnings numbers revisions plus the fact that the company is still without a replacement for CEO Brian Krzanich, left Bank of America analysts with a new downgrade to neutral from out perform, despite the strong earnings and strong forward guidance outlook
Intel Corp. shares slipped to a low of $47.57 this morning for a drop of over 8.25%.
This article is an analysis of Intel Stock this morning including the outlook for into the next quarterly earnings report. I entered a number of trades this morning in Intel Stock.
The rest of this Intel Stock strategy article is for FullyInformed Members.
Intel Stock Plunges After BAC Downgrade Amid Earnings Report – Trade Alerts – Jul 27 2018
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