Intel forecast second-quarter revenue below Wall Street estimates on Thursday, casting a shadow over new CEO Lip-Bu Tan's first round of earnings at the helm, against the backdrop of a raging Sino-U.S. trade war.
Intel (INTC) is slated to report first-quarter results after the market closes Thursday, marking the chipmaker's first report since Lip-Bu Tan was named CEO in mid-March.
The consensus is that Intel will report revenue of $12.3 billion with adjusted earnings per share of one cent for the March quarter.
QCOM and INTC are both dominant players in the semiconductor space and are taking several initiatives to take advantage of the evolving market trends and AI proliferation across sectors.
Intel has a reasonable chance of beating earnings estimates when it reports first-quarter results.
Intel (INTC 5.95%) stock is roaring higher in Wednesday trading thanks to a combination of bullish catalysts. The company's share price was up 5.4% as of 12:30 p.m.
Intel Corp (NASDAQ:INTC) is up 5.6% in pre-market trading, after reports surfaced that the chipmaker is preparing to cut more than 20% of its staff.
Intel Corp (NASDAQ:INTC, ETR:INL) is preparing to cut more than 20% of its workforce as part of a major restructuring effort aimed at streamlining operations and reviving growth, Bloomberg reported, citing sources familiar with the matter. The cull, expected to be announced this week, comes under the direction of new CEO Lip-Bu Tan, who took over last month with a mandate to reinvigorate the struggling chipmaker.
After sell-offs yesterday, Intel (INTC 3.58%) stock rallied in Tuesday's trading. The semiconductor company's share price gained 2.8% amid a 2.5% gain for the S&P 500 and a 2.7% gain for the Nasdaq Composite.
Intel is set to unveil plans this week to slash more than 20% of its workforce, Bloomberg News reported on Tuesday, citing a person with knowledge of the matter.
The 2025 Q1 earnings season remains in full swing, with a wide variety of companies on deck to report quarterly results this week.
Despite solid traction in the AI PC market, fierce competition and Sino-U.S. trade spat are major headwinds for Intel.