Intel Q3 Likely to Exceed Guidance, Wedbush Says

MT Newswires Live10-27 23:21

Intel (INTC) is expected to report Q3 results above guidance, driven by its server business, Wedbush said in a note Tuesday. The results are due Oct. 29.

The note said the beat could be smaller than in Q2 on the back of lower PC shipments and rising memory and substrate costs.

Intel forecast Q3 sales of $15.8 billion to $16.8 billion, and adjusted EPS of $0.38, while Wedbush expects $16.3 billion and $0.38, respectively.

The bigger debate centers on the Q4 outlook, and whether Intel offers some insight into 2027, the report added.

Wedbush kept its neutral rating with a price target of $98.

Price: 93.23, Change: +2.76, Percent Change: +3.05

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