In the latest trading session, Intel (INTC) closed at $24.05, marking a +1.69% move from the previous day. This move outpaced the S&P 500’s daily gain of 0.56%. Elsewhere, the Dow saw an upswing of 0.42%, while the tech-heavy Nasdaq appreciated by 0.83%.
Prior to today’s trading, shares of the world’s largest chipmaker had gained 9.9% over the past month. This has outpaced the Computer and Technology sector’s gain of 0.44% and the S&P 500’s gain of 3.11% in that time.
The investment community will be paying close attention to the earnings performance of Intel in its upcoming release. In that report, analysts expect Intel to post earnings of $0.12 per share. This would mark a year-over-year decline of 77.78%. Alongside, our most recent consensus estimate is anticipating revenue of $13.77 billion, indicating a 10.61% downward movement from the same quarter last year.
INTC’s full-year Zacks Consensus Estimates are calling for earnings of -$0.09 per share and revenue of $52.59 billion. These results would represent year-over-year changes of -108.57% and -3.01%, respectively.
Investors should also note any recent changes to analyst estimates for Intel. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 82.83% lower. At present, Intel boasts a Zacks Rank of #3 (Hold).
The Semiconductor – General industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 28, positioning it in the top 12% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
