Intel's latest earnings — and the market's reaction to them — are a study in relativity.
The chip company’s second-quarter results, put out Thursday afternoon, were “quite strong at least relative to expectations,” according to Bernstein analyst Stacy Rasgon, who called out better-than-anticipated performance of the data-center and client-computer businesses. Yet, simultaneously, he saw Intel’s INTC earnings as “objectively bad with continued near-term data-center headwinds, key businesses still losing money, and $3... Intel Corp.
He lifted his price target on the stock to $34 from $32 in his most recent note, while saying that the company still has “an awful lot of wood to chop.” “We acknowledge that INTC’s execution has improved significantly in the last two quarters,” Stein added, but said the company could face a “lasting problem” stemming from a shift in spending toward high-end artificial-intelligence systems and competitive risks from Nvidia Corp. NVDA .He has a hold rating on Intel shares but boosted his price target to $37 from $32.
Intel’s results and commentary suggested to C.J. Muse of Evercore ISI that management is “clearly executing to its plan,” something that he said is “frankly is a breath of fresh air from Intel.”
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Alphabet earnings remind Wall Street of Google's AI prowessNot too long ago, investors were fretting about Google's AI positioning, but now analysts are celebrating the company's years of work on the technology.
Lire la suite »
A Wall Street (Crypto) Analyst’s Take on ChainLink: Crypto Long & Short.GWilliamsJr_CMT returns to his past and examines chainlink and $LINK like a stock analyst. Read that and more in “Crypto Long & Short.”
Lire la suite »
Chipotle sales rise but fall short of Wall Street's expectationsChipotle reported quarterly earnings that crushed expectations, but the burrito chain’s sales fell short. More here:
Lire la suite »
Chipotle shares slide as sales fall short of Wall Street's expectationsChipotle reported quarterly earnings that crushed expectations, but the burrito chain’s sales fell short. More here:
Lire la suite »
'AI momentum building in Redmond': Wall Street reacts to Microsoft earnings'AI momentum building in Redmond': Here's how Wall Street is reacting to Microsoft's earnings report
Lire la suite »
Jaylen Brown wants to bring Black Wall Street to Boston after signing richest NBA contract | CNNTwo-time NBA All-Star Jaylen Brown signed the richest deal in NBA history on Wednesday: a five-year, $304 million supermax contract extension with the Boston Celtics.
Lire la suite »