Is Artificial Intelligence Going to Become a Game Changer for Intel Stock?
(NASDAQ: INTC) investors heaved a sigh of relief after the company released its second-quarter 2023 results on July 27 as the semiconductor giant posted a surprise profit and exceeded Wall Street's revenue expectations comfortably.
What's more, Chipzilla's guidance for the current quarter turned out to be better than expected. The company expects revenue of $13.4 billion in the third quarter, ahead of the $13.2 billion consensus estimate. It also expects to post a profit of $0.20 per share as compared to analysts' expectation of a $0.16 per share profit.
Intel's performance was appreciated by investors as the stock jumped nearly 6% following the results. But a closer look suggests that the reason why Intel stock surged after its report may not be enough to support its rally in the long run.
Source Fool.com
Intel Corp. Stock
Currently there is a rather positive sentiment for Intel Corp. with 22 Buy predictions and 12 Sell predictions.
As a result the target price of 38 € shows a positive potential of 33.03% compared to the current price of 28.57 € for Intel Corp..
