Intel (INTC) Comments Slap Chipmakers Back to Reality (AMD) (NVDA) (MFST)
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Price: $120.35 -5.25%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.4%
EPS Growth %: +310.0%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.4%
EPS Growth %: +310.0%
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Friday is proving to be a bad day for chipmakers. After flying high yesterday on ECB/Draghi comments and hopes for a global recovery, semiconductor stocks are back in the doldrums again after the largest producer in the world, Intel Corp. (Nasdaq: INTC) reported that third-quarter revenue is expected to be below the company's previous outlook as a result of weaker than expected PC demand.
The company now expects third-quarter revenue to be $13.2 billion, plus or minus $300 million, compared to the previous expectation of $13.8 billion to $14.8 billion. Relative to the prior forecast, the company is seeing customers reducing inventory in the supply chain, softness in the enterprise PC market segment, and slowing emerging market demand.
These statements sent shivers down investors spins, and the entire sector is getting hammered. Advanced Micro Devices, Inc. (NYSE: AMD) is lower by 3.3 percent and NVIDIA Corporation (Nasdaq: NVDA) is lower by 4.3 percent. Microsoft (Nasdaq: MFST) is also trading lower today, in part due to Intel's comments regarding PC sales. Intel is lower by 3 percent.
The company now expects third-quarter revenue to be $13.2 billion, plus or minus $300 million, compared to the previous expectation of $13.8 billion to $14.8 billion. Relative to the prior forecast, the company is seeing customers reducing inventory in the supply chain, softness in the enterprise PC market segment, and slowing emerging market demand.
These statements sent shivers down investors spins, and the entire sector is getting hammered. Advanced Micro Devices, Inc. (NYSE: AMD) is lower by 3.3 percent and NVIDIA Corporation (Nasdaq: NVDA) is lower by 4.3 percent. Microsoft (Nasdaq: MFST) is also trading lower today, in part due to Intel's comments regarding PC sales. Intel is lower by 3 percent.
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