PREVIEW: Intel gains ahead of results due after the bell

Apr 25, 202417:02 UTC

** Shares of Intel INTC were up 1.1% in midday trading on Thurs ahead of the semiconductor co's 1st-quarter results due after the closing bell

** Intel is expected to report an increase in rev to $12.78 bln from $11.72 bln a yr ago, and to post earnings of 14c/shr vs an adjusted loss of 4c/shr in the yr-ago period, according to LSEG

** The company has beaten analysts' earnings expectations in six of the past eight reporting periods, per LSEG

** Analyst recommendations on the stock include eight "strong buy" or "buy" ratings, 33 "hold" ratings and four "sell" or "strong sell" ratings, based on LSEG data

** Earlier this week, Raymond James and HSBC cut their price targets on Intel

** The median 12-mo price target is $43.00; the stock was last at $34.87

** Investors are likely to focus on any comments the co makes about artificial intelligence chips after Intel on April 9 detailed a new version of its AI chip at its Vision event

** In Jan, Intel forecast revenue for the 1st quarter that could miss market estimates by more than $2 bln

** Including the session move, INTC shares are down about 31% for the yr to date, while the Dow DJI is up roughly 1% for that period