Intel Corp (NASDAQ:INTC) has fallen from grace so suddenly that semiconductor suitors have been circling.
Intel Corporation INTC will report third-quarter financial results tomorrow, October 31, after the closing bell.
Intel's (INTC) third-quarter results are due after the closing bell on Thursday. Analysts aren't bullish on the struggling chipmaker, with Wall Street generally calling for a loss and expecting comparatively little upside for the shares.
Intel CEO Pat Gelsinger inherited a troubled company that had lost its edge in manufacturing skills and had ceded to rivals the hugely lucrative markets for chips used in mobile phones and artificial intelligence.
Pat Gelsinger took the reins as Intel CEO three years ago with hopes of reviving the American industrial icon. He soon made a big mistake.
Investors are losing patience with Intel.
INTC is likely to have recorded lower revenues from the CCG segment due to high customer inventory levels and a conservative approach toward placing orders for high-value items.
INTC is likely to have recorded lower revenues from the DCAI segment, owing to the fierce competition from other industry leaders.
Intel is expected to report its biggest quarterly revenue drop in five quarters on Thursday, potentially signaling more erosion of data center and personal computer market share for the once iconic American chipmaker.
Former President Trump reiterated his frustrations with Taiwan, accusing the country of stealing America's chip sector In Joe Rogan's podcast, Trump said he'd put a tariff on Taiwan's chips
Will challenges faced by TSMC create opportunities for Intel?
Intel has been one of the worst performers this year, as the stock corrected after every earnings result. Over the past year, I have mentioned that Intel's main headwind is the wrong strategy within the foundry business where it competes with highly efficient TSM. The upcoming earnings result is a make-or-break moment for the company, and the management needs to provide greater clarity about the future roadmap.