PREVIEW: Intel shares up; seen reporting decline in Q1 EPS
Shares in Intel Corp INTC.O up 3% on Thursday amid broad market gains; due to report Q1 earnings after market close
Wall St sees the chip maker reporting adj EPS of $0.01 vs $0.18 in year-ago quarter on rev of $12.3 bln, down from $12.72 bln year-ago, according to LSEG data
In last 8 quarters INTC's rev beat consensus expectations 6 times, with most recent miss in Q2 2024, while EPS beat 7 times
Investors will monitor for any plans from Lip-Bu Tan, who took CEO job last month, to revive the faltering co after years of challenges and management missteps. Bloomberg News reported that the chipmaker is set to unveil plans cut >20% of workforce, to reduce inefficiencies, citing an unnamed source.
INTC shares last traded at $21.20 vs median PT of $21, which is down from $23 a month ago, per LSEG, which shows 45 analyst ratings: 1 'strong buy,' 2 'buy,' 38 'hold,' 3 'sell' and 1 'strong sell'
YTD up 5.7% vs 13.9% drop YTD for S&P 500 tech sector .SPLRCT, while Philadelphia chip index .SOX is down 16%
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