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(wow) Words Of Wonders Level 682 Answers

(wow) Words Of Wonders Level 682 Answers – Shares of Intel ( NASDAQ:INTC ) fell more than 10% on Friday after the chip giant reported a quarter that CEO Pat Gelsinger said was “below the standards we've set for the and our shareholders,” which led to several downgrades by Wall analysts. . .

Baird analyst Tristan Guerra downgraded Intel ( INTC ) to neutral from outperform and cut his price target to $40 from $60, noting that the is experiencing weak consumer demand for PCs that is unlikely to change anytime soon.

(wow) Words Of Wonders Level 682 Answers

“The shift in consumption habits away from home entertainment equipment during the COVID period, combined with a weak first half of the season, suggests that PCs will not recover anytime soon, so lower consumption will hinder the recovery of gross margins,” Guerra wrote in a note. to customers . The analyst added that delays in the Sapphire Rapids and Intel ( INTC ) lineup should benefit Advanced Micro Devices ( NASDAQ:AMD ) in the server market in the second half of the year.

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For the period ended July 2, Intel ( INTC ) reported adjusted earnings of $0.29 per share on revenue of $15.3 billion, down 17% from a year earlier. Data center revenue fell 16% year-over-year, and sales of the 's largest segment, client computing, totaled $7.7 billion, down 25% from a year earlier.

At the start of the third quarter, Intel ( INTC ) said its revenue was between $15 billion and $16 billion, well below analysts' expectations of $18.67 billion. Non-GAAP gross margin is expected to be 46.5% and EPS is expected to be $0.35.

Intel (INTC) in Santa Clara, California. also lowered its full-year sales forecast to $65 billion to $68 billion from $76 billion previously. Analysts expect full-year revenue of $74.76 billion.

Gelsinger also said Intel ( INTC ) would cut costs by the end of the year, citing continued economic weakness and a 10% decline in the PC market.

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Susquehanna analyst Christopher Rolland downgraded his rating from neutral to negative, noting that Intel ( INTC ) faces some “long-term challenges,” including server migration to Arm and Apple ( AAPL ), which has a larger share of the PC market. expanded its M series to “completely replace” Intel.

In addition, Advanced Micro Devices (AMD) continues to increase its share of the PC market, albeit at a slower pace than in recent years. And AMD's ( AMD ) server share is likely to increase with the launch of 5nm Genoa, which is expected to outpace the aforementioned Sapphire Roads to market, which could happen as early as next year.

Other risks for Intel ( INTC ) include continued rejection of the product roadmap, which could cause delays at Granite Rapids and Meteor Lake; pressure on gross margins as companies spend money to move to more complex geometries and increased competition; “work-from-home hangovers” resulted in a smaller-than-expected PC market; and a “growing mismatch” between earnings and free cash flow per share.

“For decades, Intel has been able to cover a series of failed projects, failed acquisitions and strategic mistakes by rejecting Moore's Law and process control,” Rolland wrote in a note to clients. “Unless they regain this leadership position (which we think is unlikely) or change their strategic direction, we expect Intel's growth, profitability and cash flow problems to continue.”

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Barclays Capital analyst Blaine Curtis did not downgrade Intel ( INTC ) but noted that the has had an “underweight” rating for four years and sees no progress in such a program, strategy and market struggle.

On Thursday, the House of Representatives passed the CHIPS Act, which was praised by Intel ( INTC ) and others, and the bill now goes to President Biden for his signature.

Analysts are cool with Intel's (INTC) forecast. Seeking Alpha gives it an average BUY rating, while Wall Street analysts rate it a HOLD. On the other hand, finding Quantum System Alpha consistently outperforming the market rates INTC as a HOLD.

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