Why Intel Stock Is Crashing Today
The stock of Intel (NASDAQ: INTC) is getting crushed in Friday's trading. The company's share price was down 29% as of 10:30 a.m. ET today, according to data from S&P Global Market Intelligence.
Intel published its second-quarter results after the market closed yesterday, and sales and earnings missed Wall Street's expectations. Making matters worse, the semiconductor company also issued weak guidance, announced extensive layoffs, and said that it would be suspending its dividend.
For the second quarter, Intel reported adjusted earnings per share of $0.02 on sales of $12.83 billion. The performance fell far short of the average analyst target, which had called for per-share earnings of $0.10 on revenue of $12.98 billion.
Source Fool.com
Intel Corp. Stock
€30.82
-0.370%
Our community is currently low on Intel Corp. with 12 Buy predictions and 19 Sell predictions.
A potential of -25.37%, resulting from comparing the current price of 30.82 € with the target price of 23 € for Intel Corp., shows the chance of incurring significant losses.
