Wedbush Analyst Says 'Bit Surprised' After Intel's First-Quarter Guidance Falls Short By Over $1B
Portfolio Pulse from Benzinga Neuro
Intel Corporation's Q1 2024 revenue guidance fell short by over $1 billion, surprising analysts. Wedbush's Matt Bryson noted the shortfall was due to excess inventory from Q4 overshipping, leading to a backlog. Despite this, Bryson expects a recovery towards the end of 2024. Intel's Q4 revenue was $15.4 billion, beating estimates, but Q1 guidance of $12.2-$13.2 billion is below the expected $14.2 billion. BofA's Vivek Arya predicted the miss, citing multiple headwinds. Intel is also a partner in the NAIRR pilot initiative.
January 26, 2024 | 2:07 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Intel's Q1 2024 revenue guidance shortfall may negatively impact investor sentiment in the short term, despite a strong Q4 performance.
Intel's lower-than-expected Q1 guidance is a significant miss that could lead to a negative short-term reaction in the stock price. The surprise from analysts suggests the market had not priced in such a shortfall. However, the company's involvement in the NAIRR initiative and the anticipated recovery in late 2024 provide some positive outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100