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(wow) Words Of Wonders Level 237 Answers – Shares of Intel (NASDAQ:INTC) fell more than 10% on Friday after the chip giant posted quarterly results that CEO Pat Gelsinger said were “below standards.” set for the and its shareholders, causing Wall Street analysts to drop several indexes. . .

Baird analyst Tristan Gerra downgraded Intel ( INTC ) to Neutral from Overweight and cut his price target from $60 to $40, noting that the has suffered from weak demand. of PC customers, which is unlikely to change anytime soon.

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“The shift in consumer patterns away from the COVID-19 period for home entertainment devices, combined with a weak season in the first half of the year, indicates an inability to recover PC in the short term, leading to a rate that threatens the sustainability of the margin,” Gerra wrote in a message to clients. Analysts added that the delay in the product mix of Sapphire Rapids and Intel (INTC) will 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 ) said it earned $0.29 per share on revenue of $15.3 billion, down 17% from the period in last year. Data center revenue fell 16% year-over-year, while the 's largest segment, Consumer Computing, generated $7.7 billion in revenue, down 25% year-over-year.

In the third quarter, Intel (INTC) said it saw $15 billion to $16 billion in revenue, lower than the $18.67 billion expected by analysts. GAAP gross margin is estimated at 46.5%, with net income of $0.35.

Santa Clara, Calif.-based Intel ( INTC ) cut full-year revenue to $65 billion to $68 billion from an earlier outlook of $76 billion. Analysts had expected full-year revenue of $74.76 billion.

Gelsinger also said that Intel ( INTC ) will cut costs and expenses by the end of the year, citing continued weakness in the economy and a decline of about 10 percent. the PC market.

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Susquehanna analyst Christopher Rolland cut the rating from neutral to negative, noting that Intel ( INTC ) faces “long-term issues,” including the server shift to Arm, as well as part of Arm's larger PC market share with Apple (AAPL). is expanding the M series to “completely replace” Intel.

In addition, Advanced Micro Devices (AMD) may continue to gain share in the PC market, albeit at a slower pace than a few years ago. AMD's ( AMD ) server market share may increase with the introduction of Genoa 5nm, which is expected to beat the aforementioned Sapphire Roads, which may not happen until next year.

Other risks for Intel ( INTC ) include pushing the product roadmap further with potential delays at Granite Rapids and Meteor Lake; pressure on significant profits as companies spend to move to more complex geometries and competition increases; the “[work from home] cat,” which leads to a smaller PC market than you might think; and the “incremental difference” between earnings and free cash flow per share.

“For decades, Intel has managed to cover failed projects, bad acquisitions and strategic weaknesses using Moore's Law and process management,” Rolland wrote in a blog post. Notice to customers. “At Intel, we expect growth, profitability and financial issues to continue unless management wins (which we think is unlikely) or changes its strategic direction.”

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Blayne Curtis, an analyst at Barclays Capital, did not downplay Intel ( INTC ) but pointed out that the is at a four-year low and does not “see the way forward, the types of strategies and market wars.”

On Thursday, the Senate passed the CHIPS bill, which was praised by Intel ( INTC ) and others, and now the bill will be sent to President Biden to sign into law.

Analysts are indifferent to Intel's ( INTC ) outlook. It has an average rating of BUY at Seeking Alpha, while Wall Street analysts have a HOLD rating. In contrast, the Seeking Alpha Quantification System, which consistently beats the market, rates INTC as a HOLD.

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Intel Plummets As Analysts Downgrade Chip Giant After ‘below Standard' Quarter

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