Semiconductor Stocks Slid in Morning Trading, With Intel Dropping over 4%

Tiger Newspress2022-06-08

Semiconductor Stocks Slid in Morning Trading, With Intel Dropping over 4%.

NXP, TXN, AMAT, Micron Technology, and Qualcomm fell between 1% and 2%.Citi analyst Christopher Danely, who rates Intel (INTC) shares neutral with a $45 price target, lowered 2022 sales and earnings per share estimates to $71.9B and $2.33, down from a prior outlook of $74.4B and $2.63 per share. The firm maintained its 2023 and 2024, estimates, though.

Danely added he expects Intel (INTC) "to negatively pre-announce or miss [second-quarter] guidance" after comments made by Intel (INTC) management insinuated "circumstances are worse than expected during the quarter." The commentary cited reduced inventory levels at customers and delays as China emerges from its Covid-related lockdowns.

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Comment（4）

Jess261
·2022-06-09
Okay
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Success88
·2022-06-09
Ok
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blessed_1
·2022-06-08
As usual
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OneChemistry
·2022-06-08
Why
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