On July 20, Intel rose 3.43% in regular trading, trading at $99.64/share, with turnover of $1.012 billion. The stock gained momentum as Wedbush issued a bullish pre-earnings note and the broader semiconductor sector staged a technical rebound following last week's sharp selloff.
Wedbush expects Intel to deliver strong Q2 results, projecting data center business sales to grow 10% sequentially and 40% year-over-year as the primary growth driver. The firm noted that CPU product pricing remains robust with double-digit average selling price increases, and margins are expected to come in far above prior expectations — a trend likely to persist for several quarters. Intel is scheduled to report Q2 earnings on July 23 after market close, with consensus revenue estimates at $14.413 billion, representing approximately 21% year-over-year growth.
Morgan Stanley raised its price target on Intel to $75 from $73, while multiple firms have recently lifted targets — KeyBanc to $155, Susquehanna to $115, and UBS to $121. The semiconductor sector broadly recovered, with Micron Technology up 5.13%, AMD up 4.9%, SK Hynix up 4.77%, and TSMC up 2.58%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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