Where Will Intel Stock Be In 1 Year?
Intel's (NASDAQ: INTC) stock dropped 6% on Jan. 27 in response to its dismal fourth-quarter earnings report. The chipmaker's adjusted revenue declined 28% year over year to $14.0 billion, which missed analysts' estimates by $490 million. Its adjusted earnings plunged 92% to $0.10 a share and also missed the consensus forecast by a dime.
For the full year, Intel's adjusted revenue and earnings fell 16% and 65%, respectively, as it grappled with the post-pandemic slowdown of the PC market, stiff competition from AMD (NASDAQ: AMD), and macro headwinds across the data center market. Inflation also forced it to hike the prices of some of its chips even as the semiconductor market cooled off.
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Source Fool.com
