Intel will be the first major computer-chip maker to report its third-quarter results after the market close.According to FactSet, the consensus call among analysts is that Intel will report revenue of $13.6 billion and adjusted earnings of 22 cents a share for the September quarter. Analysts’ estimate for the current quarter’s revenue is $14.4 billion, with EPS of 33 cents.
Earlier this week, Bernstein analyst Stacy Rasgon reaffirmed his Market Perform rating and $34 price target for Intel stock, citing the risk to the chip maker’s profitability next year. The analyst says demand for the company’s data center server chips remains weak and forecasts 2024 earnings per share of $1.53 versus the Wall Street consensus of $1.74.Write to Tae Kim at tae.kim@barrons.com
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