Intel

Posted on | by Leon Hinde | Leave a Comment on Intel

Revenue increased from $11.7b in Q1/23 to $12.7b in Q1/24, resulting in 8.6% year-over-year growth.

Intel is now reporting in two major segments – Intel Foundry and Intel Products.

The chart pattern shows support at $30.00

The long-term chart suggests investors should accumulate the stock within the $25 – $35 range and look for a multi-year recovery starting in 2025.

Intel

Posted on | by Leon Hinde | Leave a Comment on Intel

Intel Corporation – Common

On April 25, 2024, Intel reported its Q1 FY24 earnings with revenue of $12.7 billion, a 9% increase YoY, and non-GAAP EPS of $0.18, both beating Wall Street expectations. However, the revenue guidance of $12.5 billion to $13.5 billion fell short of Wall Street’s expectation of $13.63 billion, leading to a plunge in the stock price to around $30 per share.

Intel is a high-risk recovery play in the chip space. We consider the current share price to be at an inflection point, and it will begin to rise in mid-to-late 2024. The first positive catalyst is the US government’s CHIPs Act funding payment. A multi-year recovery should follow, driven by innovation and AI data center sales.