Intel Gives Weak Forecast in Sign That Turnaround Is Slow Going
Apr 26, 2024 - bloomberg.com
Intel Corp., the leading manufacturer of personal computer processors, saw its shares drop in late trading due to a disappointing forecast for the current period. This suggests that the company is still facing challenges in reclaiming its top position in the chip industry. The company predicts its sales in the second quarter to be around $13 billion, which is lower than the average analyst estimate of $13.6 billion, as compiled by Bloomberg.
Furthermore, the company's projected profit is 10 cents a share, excluding certain items. This is significantly lower than the projected 24 cents. This lackluster forecast indicates that Intel is still struggling to regain its footing in the competitive chip industry.
Key takeaways:
Intel Corp., a major maker of personal computer processors, saw its shares fall in late trading due to a disappointing forecast for the current period.
The company is still facing challenges in returning to the top tier of the chip industry.
Intel predicts its sales in the second quarter will be around $13 billion, which is lower than the average analyst estimate of $13.6 billion.
The company's projected profit is 10 cents a share, minus certain items, which is significantly lower than the projected 24 cents.
