WWh­haatt ttoo eexxppeec­ctt ffr­roomm IIn­nt­teell eeaar­rn­ni­in­ng­gss

Financial Mirror (Cyprus) - - FRONT PAGE -

In­tel Corp. (NAS­DAQ: INTC) was set to re­port its earn­ings Tues­day after the mar­ket closed. This pro­ces­sor leader and semi­con­duc­tor gi­ant posted strong earn­ings for the pre­vi­ous quar­ter. There are hopes for a re­peat per­for­mance, but the price of the stock has been hit hard with the mar­ket and with Mi­crochip Tech­nol­ogy’s rev­enue warn­ing last week.

Thom­son Reuters has con­sen­sus earn­ings es­ti­mates of $0.65 per share and $14.44 bln in rev­enues. This would com­pare to the pre­vi­ous year’s third-quar­ter earn­ings of $0.58 per shares and $13.48 bln in rev­enues. Es­ti­mates for the fourth quar­ter are $0.62 in earn­ings per share and rev­enue of $14.47 bln.

In­tel traded Mon­day morn­ing at $32.20. In the weeks ahead of this earn­ings re­port, the stock made a sig­nif­i­cant jump of 9.3% to $34.42 on July 16 from the pre­vi­ous close $31.50, after the sec­ond-quar­ter earn­ings were re­ported. Clos­ing prices held within the range of $33 to $35 fol­low­ing the pre­vi­ous earn­ings, and the share price had made no large shift un­til Fri­day, when it fell 5% to $31.91.

The 200-day mov­ing av­er­age is still well be­low the cur­rent share price - down at $28.71. In late Septem­ber the share price crossed un­der the 50-day mov­ing av­er­age, which now reads at $34.24, and the 50-day av­er­age had acted as re­sis­tance for a week or so prior to the lat­est sell­ing pres­sure.

Shares of In­tel have a con­sen­sus an­a­lyst price tar­get of $34.36 and a 52-week trad­ing range of $23.03 to $35.56. In­tel has a mar­ket cap of $159 bln.

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