Intel set for big drop in quarterly revenue as chipmaker struggles to bounce back

Quick Summary:

Intel is expected to report its biggest quarterly revenue drop in five quarters on Thursday (Oct 31), potentially signaling more erosion of data center and personal computer market share for the once iconic American chipmaker.

"A lot of people out there would applaud, let's say, (Intel) selling off their foundry business," said Daniel Morgan, portfolio manager at Synovus Trust, which owns shares in Intel and AMD.

With about half of the 31 analysts covering the stock lowering their revenue estimates for Intel since September, some investors believe there is little room left for disappointment.

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Category: EconomyBusiness

Markets: Singapore

Topics: Investors Revenue Expected Quarter Company Report Cent Market Intel Gelsinger Data

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-29 @ 18:10:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 716 words

Reading Time: 4 minutes read

Sentences: 27 lines

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Copyright Owner: © Channel News Asia

News ID: 23325390

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