Intel Corp. has caused Wall Street a fair bit of anguish over the past few years, but the good news heading into Thursday afternoon’s earnings report is that the company likely is in a better place these days.“On the positive, the absolute worst seems to be behind them with a bottoming PC market, a process roadmap that seems to be on track for now, and further efforts to try to unlock value on the horizon,” Bernstein analyst Stacy Rasgon wrote in a note to clients earlier this week.
Rasgon further sees a “nebulous” pathway to positive free cash flow, and he’s doubtful that the company’s artificial-intelligence narrative will prove particularly meaningful at this stage. What to expect Earnings: Analysts tracked by FactSet expect that Intel earned an adjusted 22 cents a share in the third quarter, down from 59 cents a share in the year-earlier period.
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