Intel: July Stock Decline Likely to Persist Despite Solid Earnings Outlook

AVGO -0.48% MU +2.46% MXL -2.79%

1. 1Intel is set to report second-quarter results after Thursday's close, but solid earnings alone are unlikely to reverse July's stock decline.
2. 2Intel shares have fallen 27% this month, placing it among the 10 worst-performing S&P 500 names, after surging 278% in the first half of the year to rank as the index's third-best gainer.
3. 3Wall Street projects revenue of $14.4 billion, up 12%, and EPS of 12 cents (versus a 67-cent loss a year earlier), while the stock trades at 74x forward 12-month earnings—well above its 10-year average of 22x.

Source Bloomberg · View original ↗

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