Intel Corp

NASDAQ:INTC   4:00PM EDT
47.86
-0.43 (-0.89%)

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Intel Earnings: What Will Move the Market

Intel Earnings: What Will Move the Market



Intel Earnings: What Will Move the Market


Date Published:

Disclaimer

The results here are provided for general informational purposes, as a convenience to the readers. The materials are not a substitute for obtaining professional advice from a qualified person, firm or corporation.


LEDE

Intel Corporation (NASDAQ:INTC) has been decimated by the reality that the PC market is shrinking, and while it has made a wonderful move to the Cloud to recapture that lost revenue, now fears surround its ability to deliver the goods with Advanced Micro Devices (AMD) on its heels.

The fear hit a fever pitch just a few month ago when reports came out that Intel was finding its 10nm process node shrink neither easy nor cheap. But now the narrative is gently changing -- we said gently. Perhaps Intel isn't going to be as far behind as expected in the 7nm market, and perhaps buyers will have more patience.



This earnings release will focus on the numbers, as they always do, but the guidance will be the focus. Intel must answer questions about its lag in the 7nm market and when it will be back, if ever, as the technology leader in the space.

Some questions will persist around its GPU product, but for now, that market is so utterly dominated by Nvidia, it's likely a non starter, even if its good news -- in fact, even it's bad news.

One note, Intel's estimates from analysts are so tight, that a guidance number could surprise the market without that much of an upside forecast.

Lastly, Intel is a bellwether, and in that vein, all bulls of this market want to hear about growing demand from the guts of technology -- that's memory and CPUs.

Finally, when we get down to the valuations metrics, we can see, Intel is still forecast to grow, and that leaves its forward fiscal year 2020 PE ratio at about 10.


Intel - By the Numbers

There is an expectation set by Wall Street -- and there are numbers at the top tier of that expectation as well. Guidance, at times, moves the market more than the actual quarter being reported -- so watch those numbers as well.



Current Quarter Analyst Estimates

Revenue$ 18.13 Billion
Adjusted EPS$ 1.15


What Constitutes a "Large Beat" for the Quarter

* If INTC reports a revenue number above $ 18.4 Billion , that would be ahead of even the highest estimates.
* If INTC reports an EPS number above $ 1.18 , that would be ahead of even the highest estimates.



Next Quarter Analyst Estimates

Revenue$ 18.41 Billion
EPS$ 1.09


What Constitutes a "Large Beat" in Guidance

* If INTC guides revenue above $ 18.96 Billion , that would be ahead of even the highest estimates.
* If INTC guides EPS above $ 1.19 , that would be ahead of even the highest estimates.


Implied Forward PE

Current Fiscal Year 10.81
Next Fiscal Year 10.64

* If INTC hits the mean estimates for EPS this year, the company trades at a forward PE (for the current fiscal year) of 10.81 .
* If INTC hits the mean estimates for EPS for next year, the company trades at a forward PE (for the next fiscal year) of 10.64 .

What Happened

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