Here's Why Intel Stock Could Be in a Soup This Earnings Season
Chip giant Intel's (NASDAQ: INTC) terrible year may be about to get worse when the company releases its second-quarter 2022 results after the market closes on Thursday, July 28.
Intel stock is already down 25% this year thanks to the market sell-off. Additionally, the near-term forecast issued by Intel at its investor meeting held in February this year wasn't received well by Wall Street. Intel's 2022 guidance pointed toward a steep decline in the company's margins and earnings. The chipmaker expects an adjusted gross margin of 52% this year as compared to 57.7% last year. Non-GAAP earnings are expected to drop to $3.50 per share from $5.47 per share in 2021.
Of course, Intel aims to regain its mojo in the long run, but it looks like things will get worse before they start getting better. That's because Intel's biggest business -- the client computing group (CCG) -- is in for a tough time in the second quarter and for the rest of the year. Here's why.
Source Fool.com
