Intel Corporation (NASDAQ: INTC) is set to report earnings after the close on Thursday at a time that is after its major earnings warning last month but at a time where many other chip leaders are trading close to 52-week highs. We will be paying close attention to Advanced Micro Devices (NYSE: AMD) and ARM Holdings plc (NASDAQ: ARMH) on the news.
We are going to be watching to see if Intel retracts some of its extreme caution from after the Thai flooding which has disrupted the entire technology supply chain.
The consensus earnings estimate from Thomson Reuters is $0.61 EPS on $13.72 billion in sales. Next quarter (the current quarter that is) has a consensus set of $0.51 EPS and $12.8 billion in sales.
Intel is now back to within 2% of its 52-week high. At $25.51 and with a consensus price target objective of $26.58 and a 52-week range of $19.16 to $25.92, our take is that Intel has to be more positive than it was just a month ago.
Shares fell down close to $23 after it warned, so anything not more constructive and more positive may easily allow shares to give back half of the difference of today versus the base before. If that happens, the $24.00 to $24.25 could be easily imagined.
If Intel manages to surprise and turn the caution around, we also won’t be shocked to see new 52-week highs.
That 3.4% dividend yield makes it one of the tech darlings for dividend investors.
JON C. OGG
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