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Intel Earnings Projection Boosts Shares

FILE PHOTO: A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

BNR – The American multinational corporation, Intel, has had its shares rise after it announced a rising earnings projection. The projection is for the time being, which means that the demand for electronic elements is gaining traction.

Profits in Q3 will reach as high as 13.9 billion US dollars, according to the firm’s statement on Thursday. The profits are an increase of the standard analytical estimate of 13.3 billion Us dollars. With the exclusion of some items, the corporation predicts to get profits of $0.20 per share, as opposed to the $0.13 previous projection.

Signs of Improvement

Intel shares increased by nearly 7 per cent in late trading following the report’s publishing.

The forecast indicates that the corporation has started to improve after a difficult period of slow demand. The company suffered from slow-moving demand for electronic chips, which resulted in losses.

The company’s managing board had pledged that H2 2023 would reveal development. Indeed, investors are witnessing proof of that development.

Revival Strategy from Intel Amidst Competition

Intel, however, is still in the early stage of a difficult revival strategy, which relies on recovering the company’s reputation. The multinational corporation was once at the fore of chip tech.

The company stock price has increased by 31 per cent in 2023. However, it underperformed in a rally of shares related to chips. Furthermore, the Philadelphia Stock Exchange Semiconductor Index rose by 49 per cent this year.


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