Nomura Securities Maintains a 'Reduce' on Intel (INTC); 3Q Earnings Preview
Tweet
Share
E-mailGet Alerts INTC Hot Sheet
Price: $102.50 -1.97%
Rating Summary:
24 Buy, 39 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
24 Buy, 39 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Nomura Securities maintains a 'Reduce' on Intel (NASDAQ: INTC) price target of $18.00.
Nomura analyst, Romit Shah, said, "We expect Intel to report 3Q revenue of $13.5bn (up 4% q/q) or at the low-end of the company’s revenue guidance of $14bn +/- $500mn. We are modeling gross margin of 63.5%, which is 50bps below guidance of 64%. We are forecasting Q3 EPS of $0.57 vs. consensus of $0.61. We believe microprocessor activity was sub-seasonal in Q3 due to weak consumer and enterprise PC demand. We believe the company is benefitting from supply constraints at AMD (NYSE: AMD) that could add a couple hundred million to revenue in Q3 and Q4. As such, we believe our forecast of flat revenue growth in Q4 could be conservative."
For more ratings news on Intel click here and for the rating history of Intel click here.
Shares of Intel closed at $22.99 yesterday.
Nomura analyst, Romit Shah, said, "We expect Intel to report 3Q revenue of $13.5bn (up 4% q/q) or at the low-end of the company’s revenue guidance of $14bn +/- $500mn. We are modeling gross margin of 63.5%, which is 50bps below guidance of 64%. We are forecasting Q3 EPS of $0.57 vs. consensus of $0.61. We believe microprocessor activity was sub-seasonal in Q3 due to weak consumer and enterprise PC demand. We believe the company is benefitting from supply constraints at AMD (NYSE: AMD) that could add a couple hundred million to revenue in Q3 and Q4. As such, we believe our forecast of flat revenue growth in Q4 could be conservative."
For more ratings news on Intel click here and for the rating history of Intel click here.
Shares of Intel closed at $22.99 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
- Silexion Therapeutics (SLXN) Tops Q2 EPS by 793c
- Optimum Communications gets NYSE non-compliance notice over stock price
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Nomura, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
