Intel (NASDAQ:INTC) Raises Its Revenue Forecast as the Struggling PC Market Shows Signs of Life

This is non investment communication. The author has no position in any of the stocks mentioned. WCCF TECH INC has a disclosure and ethics policy.

In a surprising turn of events, Intel (NASDAQ:INTC) has raised its quarterly revenue forecast, something they've not done in over 2 years. Think that only v months agone, the largest manufacturer of desktop and server processors announced massive layoffs, lowered revenue forecast for this year, also equally stated that a major restructuring process would kick in. To raise its revenue forecast for the adjacent quarter definitely shows that the PC market chemical element has started to testify signs of life.

Share Cost of Intel (NASDAQ: INTC) Rose to a 15-Twelvemonth High on Friday every bit Improving PC Demand Has Allowed the Visitor to Modify Its Stance on the Market place

Against all odds, Intel (NASDAQ:INTC) managed to beat analyst expectations for its Q2, 2022 results, and the company volition be hoping to brand a repeat in the coming quarter. However, this time, the odds are more favorable towards Intel's plight, as suppliers of parts used in personal computers replenish their inventory amid improving PC demand. In fact, the share cost has gone up over 6 percent in the last 5 days, showing that PC demand may exist recovering. HP, whose notebook lineup comprises upwardly of Intel'southward mobile series of processors stated that last month calculator business revenue rose to 7.five percent in the 3rd quarter equally opposed to the 2d quarter due to improvement in notebook sales.

Co-ordinate to research firm IDC, the July global PC shipment tally fell less than expected in the 2nd quarter, just that was primarily due to the fasten in the demand in the Us. Additionally, since the guidance upgrade, Nomura, Jefferies, Morgan Stanley, Mizuho, UBS and others have upgraded their price targets for Intel (NASDAQ:INTC), with an analyst from Baird Equity Enquiry commenting on the state of the PC market for the foreseeable future also. Keep in mind that this analyst raised his price target from $40 to $42.

"We expect PC units to decline less than the high-single-digit decline consensus in 2022, driven by continued Windows 10 upgrades and accelerating SSD adoption, along with new form factors."

Intel's forecast before the revision stated acquirement of $14.nine billion, with plus or minus $500 million. After the revision, Intel (NASDAQ:INTC) expects its third-quarter results to generate $15.half dozen billion in revenue, plus or minus $300 meg. With OEMs having already started to incorporate the company's Kaby Lake serial of processors, coupled with the fact that the desktop variants are going to be shipped off almost probable during the showtime quarter of next twelvemonth, Intel can hope for better days.

Source: https://wccftech.com/intel-raises-revenue-forecast-struggling-pc-market-shows-signs-life/

Posted by: bustostholdrie1970.blogspot.com

Share this post