Intel tuning11/22/2023 ![]() Total PC shipments in the first quarter declined a massive 29.0% compared to the same quarter in the year-earlier period. and as a major chipmaker, Intel will likely have experienced the full force of this downturn in Q1 2023. There seems to be no indication yet, however, that this trend is easing: according to the report from IDC, preliminary PC shipments for the first quarter indicate that the PC market overall remains in a very weak condition. Slowing demand has led to weaker end-market prices, resulted in higher device inventories as well as lower volume shipments, a trend that really accelerated in the second half of FY 2022. Intel is looking back at a terrible year in FY 2022 in which revenues declined 20% to $63.1B and net income 60% to $8B due to a broad slowdown in consumer demand after the COVID-19 pandemic. I also believe that Intel’s guidance risk for FY 2023 has significantly increased, and I would not rule out that the chip maker will have to suspend its dividend completely! IDC report raises serious concerns about Intel’s operational execution in the first quarter With volume shipments crashing yet another quarter, is it likely that Intel will report a very poor Q1’23 earnings card later this month as well ( expected April 27 post-market).Ĭonsidering IDC’s preliminary estimates about worldwide PC shipments in the first-quarter, I also expect Intel’s EPS estimates to continue to fall before the company releases its earnings. Chip maker Intel Corporation ( NASDAQ: INTC) may be facing renewed downside pressure on its valuation after new PC shipment information from International Data Corporation ("IDC") showed that the PC market extended its slump in the first-quarter.
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