Analysts Cut Intel Targets After 25-Cent Fourth-Quarter Outlook

Intel’s weaker-than-expected fourth-quarter outlook prompted Bank of America to downgrade the stock and several firms to lower price targets, as analysts weighed declining PC demand against strength in data center sales. The chipmaker projected adjusted earnings of 25 cents per share on revenue of $15 billion to $16 billion. Analysts had expected earnings of 43 cents per share and revenue of $17 billion. The forecast followed Intel’s third-quarter results, which beat estimates for revenue and adjusted earnings, and shifted attention to the near-term outlook in earlier coverage of weaker fourth-quarter guidance .

Source: TokenPost