What's Going On With Intel Stock?
Portfolio Pulse from Henry Khederian
Intel Corp (NASDAQ: INTC) shares are trading slightly higher after a volatile period following disappointing Q2 earnings. The company reported earnings of 2 cents per share, missing the analyst estimate of 10 cents. In response, Intel announced a $10 billion cost-reduction plan, including a 15% workforce reduction and suspension of its dividend starting in Q4 2024. Analysts have mixed reactions, with BofA Securities downgrading the stock and others maintaining Neutral ratings but lowering price targets.
August 07, 2024 | 4:27 pm
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NEUTRAL IMPACT
Intel's stock is experiencing slight gains despite disappointing Q2 earnings. The company announced a $10 billion cost-reduction plan, including a 15% workforce reduction and suspension of its dividend starting in Q4 2024. Analysts have mixed reactions, with some downgrading the stock and others lowering price targets.
The slight increase in Intel's stock price suggests that investors are cautiously optimistic about the company's cost-reduction plan despite disappointing earnings. The mixed analyst reactions indicate uncertainty about Intel's future performance.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100