Posted 4/8/2024, 9:45:22 PM
Intel Stock Slips Despite Upcoming Earnings Beat; Valuation Remains Stretched
- Intel (INTC) stock declined 1.89% in recent trading, underperforming the broader market
- Intel is slated to report earnings on April 25, 2024, with expected EPS of $0.13, up 425% year-over-year
- For full fiscal year, Intel expected to post earnings of $1.32 per share, revenue of $57.77 billion
- Recent downward revisions to Intel's earnings estimates signal investors are less optimistic about near-term business performance
- Intel stock currently trades at a forward P/E ratio of 29.31, representing a premium versus industry average of 26.74