Why Intel Stock Is Plummeting Today
(NASDAQ: INTC) stock is sinking in Friday's trading. The semiconductor company's share price was down 11.3% as of 10:30 a.m. ET, according to data from S&P Global Market Intelligence.
Intel published its fourth-quarter report after the market closed yesterday, and it actually delivered sales and earnings for the period that came in ahead of the market's expectations. But the company issued forward guidance that spooked Wall Street, and the stock is getting hammered in today's daily session.
In the fourth quarter, Intel posted non-GAAP (adjusted) earnings per share of $0.54 on revenue of $15.4 billion. Sales were up 10% year over year in the period, and earnings were up 260% compared to last year's relatively weak profits. The performance came in significantly ahead of the average analyst estimate's call for per-share earnings of $0.45 on sales of $15.15 billion, but the forward outlook for the business overshadowed last quarter's sales and earnings beats.
Source Fool.com
Intel Corp. Stock
Currently there is a rather positive sentiment for Intel Corp. with 46 Buy predictions and 24 Sell predictions.
However, we have a potential of -20.38% for Intel Corp. as the target price of 70 € is below the current price of 87.92 €.
