Intel shares sink as third-quarter sales miss estimates
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October 22, 2021 8:07 AM EDT
BMO Capital analyst Ambrish Srivastava lowered the price target on Intel (NASDAQ: INTC) to $60.00 (from $70.00) while maintaining an Outperform rating.
The analyst commented, "Intel provided an earlier look at the model as the company transitions to one that includes large investments needed to... More
October 22, 2021 6:26 AM EDT
Goldman Sachs analyst Toshiya Hari lowered the price target on Intel (NASDAQ: INTC) to $44.00 (from $51.00) while maintaining a Sell rating.
"It is increasingly clear that Intel's intended path to process node parity/leadership will require higher levels of capex and entail...
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October 22, 2021 6:21 AM EDT
Intel (NASDAQ: INTC) stock is down 10% in pre-open Friday on mixed Q3 results and disappointing guidance and commentary.
Intel delivered EPS of $1.71 to easily top the Street consensus of $1.11, while revenue came in at $18.1 billion to miss on the $18.24 billion consensus. CEO Pat Gelsinger blamed disappointing sales and demand on the overall supply challenges of the semiconductor industry.
Intel stock was further hit after the company warned its gross margin and free cash flow will decline over the next 2-3 years as a significant portion of generated revenues will be... More
