Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
Intel stock price fell below the 200-day EMA on Wednesday and continued to lose in yesterday’s session. Intel Corp. announced its third quarterly results yesterday due to which the INTC stock price showed volatility. However, the price closed lower signifying the continuation of the last day’s drawdown.
The Intel stock price closed at $32.52 with a loss of 0.94%. The price has been in a continuous decline since it slipped below the 50-day EMA. The pre-earning sentiments were negative as the stock price declined to lower levels.
Intel Corp. Businesses And Revenues Breakdown
Intel Corp. is a manufacturing company that engages in the design, manufacture, and sale of computer products and other technologies. The company also works in the field of networking, data storage, and communication platforms. The Intel Corporation works in different segments such as Client computing groups, data centers and AI, Network and edge, etc.
The chipmaker giant holds a market cap of over $136.194 Billion. The number of shares in the free float is 4.186 Billion. The recent performance of the company shows that the profit margin is declining year over year. Talking about the last five years’ performance, the profit margin has lowered to 12% in the financial year 2022 while being 29.72% in the year 2018.
Intel Inc. generates revenues through various subsidiaries. The largest contributor to Intel’s revenue is client computing which alone contributes about 49.88% of the total revenues and generates $31.70 Billion.
The Data Center and AI segment contributes $19.19 Billion, about 30.19% of the revenues generated. The other segments like Network, edge, and mobile AI, add the rest of the revenues.
Intel Quarterly Earning Analysis
Intel on Thursday posted its third quarterly results. The results were quite surprising and outperformed the Wall Street analysts’ estimates. The company posted a revenue of $13.565 Billion, beating the estimates by 4.37%.
The revenues were continuously declining since 2020 which has improved and risen in the recent quarterly results. Moreover, the earnings outperformed the expectations by a massive 86.66%. The company reported earnings of $0.41 Billion with $0.22 Billion as estimates.
The overall results seem to have improved in the recent quarter which may impact positively on the stock price. The results are promising and enough to gain investors trust back again.
Intel Stock Price Showed Volatility In The Recent Sessions
The price trend behavior of the Intel stock elaborates that the price had turned bearish in the pre-earning sessions. The INTC stock price suffered rejection from the $40 level and struggled to sustain above the 50-day EMA.
The price made a breakdown after it struggled to sustain above the 50-day EMA for over 20 sessions. The price faced a breakdown near the 200-day EMA thus turning the pre-earning sentiments negative.
Intel Stock Surges 7% In Pre-Market Session
Intel Corp. reported its third quarterly results yesterday. The stock price experienced volatility in the intraday session but closed in red almost 0.94% lower at $32.52.
However, the investors have welcomed the quarterly results as the Intel stock is up 7% in the pre-market session today. The quarterly results have led to a positive impact on the price and the price has recovered the last two sessions before the market opening itself.
However, the most crucial part of the game might be today’s intraday session as the price needs to sustain the gap-up opening. Otherwise, the selloff may erode the gains.
Intel Stock Price Technical Analysis.
The Intel price fell below the 200-day EMA before the results. However, the pre-market opening has again taken the price above the EMA. Now, if the price manages to sustain above the 200-day EMA and gains the buyer’s support, it may again rise to soar near higher levels.
The technical indicators imply that the RSI is showing a bearish crossover of the SMA line indicating a bearish outlook in the short term. The RSI line is currently at 32.02 and the SMA line is at 47.73. RSI is declining, suffering rejection from the SMA line indicating the weakness over the charts.
Conclusion
Intel Corp. reported its third quarterly results on Thursday, beating the analysts’ estimates by a large margin. The company posted a revenue of $13.565 Billion and earnings of $0.41 Billion, showing an improvement from the previous quarters.
The Intel stock price, which was in a declining trend since 2020 and fell below the 200-day EMA before the results, surged 7% in the pre-market session today. The price trend suggests that the price may recover its losses if it sustains above the 200-day EMA and gains the buyers’ support. The quarterly results are promising and may restore the investors’ trust in the INTC stock.
Technical Levels
- Support levels: $32.05 and $30.18.
- Resistance levels: $36.99 and $39.09.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/10/27/intel-stock-price-surges-7-in-the-pre-opening-session-today/