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
€78.19
-0.780%
Our community is currently high on Intel Corp. with 47 Buy predictions and 24 Sell predictions.
On the other hand, the target price of 74 € is below the current price of 78.19 € for Intel Corp., so the potential is actually -5.36%.
