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Here's Why Intel (INTC) Fell More Than Broader Market
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Intel (INTC - Free Report) closed at $89.47 in the latest trading session, marking a -2.85% move from the prior day. This change lagged the S&P 500's 0.25% loss on the day. At the same time, the Dow lost 0.02%, and the tech-heavy Nasdaq lost 0.52%.
Shares of the world's largest chipmaker witnessed a gain of 1.05% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 7.57%, and the S&P 500's gain of 4.34%.
The investment community will be paying close attention to the earnings performance of Intel in its upcoming release. The company is expected to report EPS of $0.39, up 69.57% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $16.36 billion, up 19.85% from the year-ago period.
INTC's full-year Zacks Consensus Estimates are calling for earnings of $1.47 per share and revenue of $62.12 billion. These results would represent year-over-year changes of +250% and +17.53%, respectively.
Investors should also note any recent changes to analyst estimates for Intel. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.22% lower within the past month. Intel is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Intel is currently exchanging hands at a Forward P/E ratio of 62.86. This expresses a premium compared to the average Forward P/E of 38.61 of its industry.
The Semiconductor - General industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 38, positioning it in the top 16% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
View the Zacks #1 Rank List
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Here's Why Intel (INTC) Fell More Than Broader Market
Intel (INTC - Free Report) closed at $89.47 in the latest trading session, marking a -2.85% move from the prior day. This change lagged the S&P 500's 0.25% loss on the day. At the same time, the Dow lost 0.02%, and the tech-heavy Nasdaq lost 0.52%.
Shares of the world's largest chipmaker witnessed a gain of 1.05% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 7.57%, and the S&P 500's gain of 4.34%.
The investment community will be paying close attention to the earnings performance of Intel in its upcoming release. The company is expected to report EPS of $0.39, up 69.57% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $16.36 billion, up 19.85% from the year-ago period.
INTC's full-year Zacks Consensus Estimates are calling for earnings of $1.47 per share and revenue of $62.12 billion. These results would represent year-over-year changes of +250% and +17.53%, respectively.
Investors should also note any recent changes to analyst estimates for Intel. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.22% lower within the past month. Intel is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Intel is currently exchanging hands at a Forward P/E ratio of 62.86. This expresses a premium compared to the average Forward P/E of 38.61 of its industry.
The Semiconductor - General industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 38, positioning it in the top 16% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.