Intel to Beat Q2 Earnings: ETFs to Buy

Sweta Killa Published on July 22, 2020

Intel (INTC - Free Report) is set to release second-quarter 2020 results on Jul 23 after market close. Being a market leader in e-commerce, it is worth taking a look at the company’s fundamentals ahead of its results.

Intel has gained 2.8% over the past three months, underperforming the industry’s average growth of 22.2%. It can see a strong run-up in its share price given that the world’s largest chipmaker has a higher chance of an earnings beat (read: Semiconductor ETFs Continue to Shine as Q2 Earnings Unfold).

Inside Our Methodology

Intel has a Zacks Rank #2 (Buy) and an Earnings ESP of +3.13%. According to our surprise prediction methodology, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

The stock saw positive earnings estimate revision of a penny over the past 30 days for the to-be-reported quarter. Analysts increasing estimates right before earnings — with the most up-to-date information possible — is a good indicator for the stock. The Zacks Consensus Estimate represents a substantial year-over-year increase of 12.3%. Additionally, Intel’s earnings surprise history is impressive, with surprise beat of 17.37%, on average, for the last four quarters. The company is expected to report revenue growth of 12.35%. The stock has a top VGM Score of A and falls under a top-ranked Zacks industry (top 21%).

The Zacks Consensus Estimate for average target price is $64.54 with nearly 36% of the analysts giving a Strong Buy or a Buy rating ahead of the company’s earnings (see: all the Technology ETFs here).

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