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The PC chipmaker revealed a 39% jump in fourth-quarter income in January, and CEO Brian Krzanich stated it was ‘a strong finish to a record year’. Even though the household PC market in the US declined marginally last year, Intel still managed to increase its market share. This highlights how dominant and comfortable Intel is in this sector. The company experienced an increase in demand for PCs from the corporate world, but volumes outside of the US declined.
Along with the final-quarter update at the start of the year, the firm predicted a gross margin of approximately 60% and first-quarter revenue of $13.70 billion; both of these figures gave traders cause for concern.
Intel is keeping its focus on the mobile sector as the company still strives to make up lost ground. The popularity of tablets and smartphones in recent years has eaten into Intel’s business, but the company is addressing these issues, and the mobile business will be of particular interest to traders.
When it reveals its first-quarter figures, the analysts’ consensus is for revenue of $12.82 billion and earnings per share (EPS) of 41 cents. The company’s fourth-quarter numbers came in better than expected – revenue was $14.72 and EPS was 72 cents. The market was anticipating $14.71 and 68 cents respectively. Intel will reveal its full-year numbers in January 2016, with the market expecting revenue of $55.4 billion and EPS of $2.18. These forecasts represent a 0.4% decline in revenue and a 5% drop in EPS.
Equity analysts are very bullish on Intel, and out of the 50 ratings on the stock, 22 are buys, 20 are holds and eight are sells. The average target price is $35.05 and that is 11% above the current price. Investment banks are also bullish on Hewlett-Packard, and out of the 34 recommendations, 18 are buys, 15 are holds and one is a sell. The average target price is $40.56 which is 28% above the current price.
Since the firm revealed its final-quarter figures the number of short positions on the stock increased by 8%. Now the short interest on the stock is at its highest level in four months.
The share price is receiving support at the $30 mark. If this level is held the 200-day moving average of $34 will be initial target, and beyond that the market will look to $37. If $30 is punctured then the support at $27.80 will be brought into play.
Intel is available for extended hours trading.