Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Citi expects Intel to beat Q2 guidance

AuthorSenad Karaahmetovic
Published 07/11/2023, 07:11 AM
Updated 07/11/2023, 07:11 AM
© Reuters. Citi expects Intel (INTC) to beat Q2 guidance

Citi analysts reiterated a Neutral rating and a $29.50 per share price target on Intel (NASDAQ:INTC) shares ahead of the Q2 earnings season.

According to the latest data, June notebook shipments were up 13% month-over-month, which the analysts say is “well above expectations”. The June outperformance was driven by strong demand and new product launches.

“We would note this is the fifth out of six months that notebook shipments have been above expectations. As a result, 2Q23 notebook shipments were up 16% QoQ, above our expectation of 10% QoQ...our notebook analyst, expects 3Q23 notebook shipments to grow by 6% QoQ, roughly in line with seasonality, given the lack of clear signs of sustainable demand,” the analysts said in a client note.

They believe that this notebook strength should allow Intel to top the high end of its 2Q23 guidance.

“We reiterate our Neutral rating on Intel given secular headwinds and we remain below the consensus,” they concluded.

Intel is due to report its Q2 results on July 27.

 

Latest comments

No offense but Intel has always in the past given out worse guidances, just to beat them by a little. Marketing trick. Shintel, it always sounds better to beat guidance then not beating it. Apparently it doesnt matter, that it is still on a pretty shitty level.
Beat money losing guidance
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.