Intel’s $240 billion rally slams into a potential earnings wall
Intel Corp.'s stock has surged over 240% in the past 12 months, but its first-quarter earnings report due after the close on Thursday may halt the momentum. Wall Street analysts expect Intel to post adjusted earnings per share of 1 cent, a 92% drop from a year ago.
Intel Corp.'s stock has soared over 240% in the past 12 months to its highest price since the dot-com bubble. The company's first-quarter earnings report is due after the close on Thursday, with Wall Street analysts expecting adjusted earnings per share of 1 cent, a 92% drop from a year ago. Intel's market capitalization now stands at around $340 billion, up from $85 billion a year ago. The stock is trading at about 94 times earnings expected over the next 12 months, the highest multiple in the Philadelphia semiconductor index. Investors will be looking for evidence of a recovery, particularly in Intel's competitiveness in foundry services and chip design. Intel shares got a boost when Elon Musk said Tesla plans to use the firm's 14A chip production technology.
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