With chipmaker Intel (INTC) just days—hours, if you want to get pedantic about it—away from reporting its earnings on Thursday, investors are looking for advance information to see if there will be a likely dip or a reason to buy in early. Right now, Intel is down nearly 2% in Tuesday afternoon’s trading, so it’s looking like a likely dip ahead.
At last report, TipRanks data looks for Intel to post $0.10 per share in adjusted earnings for the second quarter of 2024, which is down from the $0.13 it turned in this time last year. Meanwhile, other projections expect revenue of $12.94 billion, which is also down from the second quarter of 2023 when it brought in $12.95 billion. However, that projection is up from the first quarter of 2024, when Intel’s revenue hit $12.72 billion.
Will the Outlook Save It?
These numbers aren’t exactly buy signal bell ringers, but sentiment could improve depending on the forward outlook. Intel has indeed been spending quite a bit lately as it works toward realizing its ambitions as an American-held chip foundry. If former President Donald Trump becomes current President once more in November, that could be an extremely attractive facility.
Meanwhile, Intel also has its hands in artificial intelligence (AI), which is a booming market with shocking potential, and that may help it. But there are clear concerns about rising costs and growing competition, even in markets long thought to be Intel-dominated. The data about Intel’s future projections will likely be what tips the scales here in terms of near-term share price growth.
Is Intel a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Hold consensus rating on INTC stock based on three Buys, 13 Holds, and one Sell assigned in the past three months, as indicated by the graphic below. After a 14.14% loss in its share price over the past year, the average INTC price target of $39.80 per share implies 32.14% upside potential.
