(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.

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Source Fool.com