Intel Corporation (INTC: NSD) is set to report its first-quarter 2024 earnings after the market closes tomorrow. While analysts predict a return to profitability compared to a loss in the year-ago quarter, many remain cautious about the stock.
Intel Expected Q1 Earnings:
The outlook for Intel is mixed. On the one hand, analysts expect revenue to grow by 9.2% year-over-year to $12.8 billion, and the company is forecast to post earnings of $0.14 per share. This marks a significant improvement from the prior year’s loss of $0.04 per share.
However, this positive outlook is tempered by several factors. The global chip shortage continues to ease, but sluggish PC demand remains a concern. Additionally, Intel faces stiff competition in the data center segment, a key growth area for the company.
Stock Target Advisor’s Analysis on Intel:
Stock Target Advisor’s give a “Sell” rating to the Intel Corporation with a target price is 44.94 and a projected price change in 12 months of 30.61%. Based on the Intel Corporation stock forecast from 21 analysts, the average analyst target price for Intel is USD 44.82 over the next 12 months.
Stock Target Advisor’s own stock analysis of Intel is Slightly Bearish, which is based on 6 positive signals and 10 negative signals. At the last closing, Intel’s stock price was USD 34.41.
Conclusion:
Investors will be closely watching Intel’s earnings report for any updates on its foundry business, data center strategy, and PC market outlook. The company’s ability to navigate these headwinds will determine its future trajectory.
Muzzammil is a content writer at Stock Target Advisor. He has been writing stock news and analysis at Stock Target Advisor since 2023 and has worked in the financial domain in various roles since 2020. He has previously worked on an equity research firm that analyzed companies listed on the stock markets in the U.S. and Canada and performed fundamental and qualitative analyses of management strength, business strategy, and product/services forecast as indicated by major brokers covering the stock.
