Intel's Q3 Report Looms As Microchip Industry Surges Ahead: Can It Catch Up?
Portfolio Pulse from Piero Cingari
Intel Corp. (NASDAQ:INTC) is set to release its Q3 earnings report, with expectations of a 73% drop in net profits and an 11% decrease in overall revenue. The company has been underperforming against Nvidia Corp. (NASDAQ:NVDA) and the broader microchip industry. Goldman Sachs maintains a Sell rating on Intel due to uncertainties surrounding its manufacturing technology and potential impact on the company's financial profile. Intel's shares were down by 5% on Wednesday, marking their lowest point in two months.
October 25, 2023 | 8:46 pm
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NEGATIVE IMPACT
Intel's Q3 earnings report is expected to show significant drops in net profits and overall revenue. Uncertainties surrounding its manufacturing technology and potential impact on the company's financial profile have led Goldman Sachs to maintain a Sell rating on the company.
The expected drop in Intel's Q3 earnings, coupled with uncertainties surrounding its manufacturing technology, are likely to negatively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
The VanEck Semiconductor ETF (NYSE:SMH) is likely to be affected by the performance of Intel, a major player in the microchip industry.
As Intel is a major player in the microchip industry, its performance can significantly impact the VanEck Semiconductor ETF (SMH). The expected drop in Intel's earnings could negatively affect SMH.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Nvidia Corp. has been outperforming Intel in the microchip industry. This trend is likely to continue in the short term.
Given Intel's expected drop in earnings and Nvidia's recent performance, it's likely that Nvidia's stock will continue to perform well in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50