Time: 2024-08-01
Intel Corporation ( INTC ) saw a 2.2 % increase in its stock during pre - market trading today . The rise in stock value is linked to reports suggesting that Intel is gearing up for significant layoffs . These layoffs are expected to be officially announced later this week . Interestingly , this news comes just before Intel 's Q2 results , which are set to be released on Thursday.
Analysts on Wall Street are predicting that Intel 's Q2 revenue will remain steady at 2.92 billion compared to the previous year . Additionally , the company is expected to report earnings of sh.1 per share , a slight drop from sh.13 in the same quarter last year . The planned job cuts are part of a larger cost - cutting effort aimed at saving 0 billion by the year 2025.
Despite the cost - cutting measures , analysts remain optimistic about Intel 's potential for growth in the AI PC market . The Bullish analysts believe that Intel will see an increase in its market share for server CPUs by 2025 . On the other hand , Bearish analysts are concerned about the potential impact on Intel 's revenue following the loss of the license to export certain products to Huawei.
Currently , analysts on Wall Street have a consensus rating of Hold for Intel stock . This rating is based on three Buy recommendations , 12 Holds , and one Sell in the last three months . Despite a 40 % decline in Intel 's stock value year - to - date , the average price target set by analysts stands at 0.21 , suggesting a potential upside of 33.46 % . Overall , the future outlook for Intel remains uncertain as the company navigates through its restructuring and cost - saving efforts.
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