Intel Stock ( NASDAQ:INTC )
Investors worried about the security of Intel’s ( NASDAQ:INTC ) dividend saw the stock drop over 10% on Friday after the semiconductor giant posted poor earnings for the fourth quarter and provided a surprising projection for the first quarter .
The deterioration in the business’s financial performance was described as “shocking” by Bernstein analyst Stacy Rasgon, who has an underperforming rating on Intel stock. Rasgon grew worried about the company’s cash situation as a consequence of these developments.
Rasgon said to clients in a note that “it is now evident why Intel has to eliminate so much expense since the company’s previous expectations revealed to be fantasy.” Ragson said, “in our judgment, the scale of the deterioration in Intel’s cash position poses a potential risk to the company’s cash situation over time.”
Ragson continued by saying that investors should “at least start worrying about the security” of Intel’s dividend payments since the company is expected to begin running through cash.
Intel ( NASDAQ:INTC ) predicts a loss of 15 cents per share in the first quarter of 2023, excluding one-time items, on sales of $10.5 billion to $11.5 billion. The business forecasts gross margins of 39%, which is below the 40% target.
The consensus forecast for the company’s earnings is 25 cents per share, with revenues of $13.96 billion and gross margins of 45.5%.
According to John Vin...
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