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Intel Stock Alert: Do NOT Buy-the-Dip in INTC

Intel just delivered a shockingly bad quarterly print.The company’s stock is trading at its lowest level since 2013.The situation at Intel looks likely to get worse before it gets better.Microchip giant Intel just delivered one of the worst quarterly financial results ever, sending Intel stock plummeting. The company’s share price plunged 26% in one day and registered its worst performance in 50 years. Intel stock is now trading at its lowest level since 2013.The earnings report was so bad that Intel dragged the entire chip sector down with it. Mighty Nvidia fell 2% on the day.With INTC stock now changing hands at $21 a share, some investors might be tempted to buy-the-dip in this beaten down company. But that would be a mistake as the situation with Intel stock is likely to get worse before it gets better.Intel is spending tens of billions of dollars to develop microchip manufacturing plants in the U

Intel Stock Alert: Do NOT Buy-the-Dip in INTC

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The company’s share price plunged 26% in one day and registered its worst performance in 50 years. Intel stock is now trading at its lowest level since 2013.The earnings report was so bad that Intel dragged the entire chip sector down with it. Mighty Nvidia  fell 2% on the day.With INTC stock now changing hands at $21 a share, some investors might be tempted to buy-the-dip in this beaten down company. But that would be a mistake as the situation with Intel stock is likely to get worse before it gets better.Intel is spending tens of billions of dollars to develop microchip manufacturing plants in the U","content":"<html><head></head><body><ul style=\"\"><li><p><strong>Intel</strong> (<strong><u>INTC</u></strong>) just delivered a shockingly bad quarterly print. </p></li><li><p>The company’s stock is trading at its lowest level since 2013.</p></li><li><p>The situation at Intel looks likely to get worse before it gets better. </p></li></ul><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/fe86ba1f43249746dff91640bd10954d\" tg-width=\"768\" tg-height=\"432\"/></p><p>Source: Sundry Photography / Shutterstock.com</p><p>Microchip giant <strong>Intel </strong>(NASDAQ:<strong><u>INTC</u></strong>) just delivered one of the worst quarterly financial results ever, sending Intel stock plummeting. The company’s share price plunged 26% in one day and registered its worst performance in 50 years. Intel stock is now trading at its lowest level since 2013.</p><p>The earnings report was so bad that Intel dragged the entire chip sector down with it. Mighty <strong>Nvidia</strong> (NASDAQ:<strong><u>NVDA</u></strong>) fell 2% on the day.</p><p>With INTC stock now changing hands at $21 a share, some investors might be tempted to buy-the-dip in this beaten down company. But that would be a mistake as the situation with Intel stock is likely to get worse before it gets better.</p><h2 id=\"id_3134510058\">A Truly Awful Print</h2><p>To say that Intel missed the targets Wall Street had set for its second quarter is an understatement. The maker of microchips and processors reported earnings per share of 2 cents, which was well below the 10 cents expected among analysts.</p><p>Revenue amounted to $12.83 billion compared to $12.94 billion that was the consensus forecast across Wall Street. Sales were down 1% from a year earlier.</p><p>The guidance provided by Intel’s management team was also not encouraging. Executives said they expect a net loss of 3 cents a share on $12.5 billion to $13.5 billion in revenue in the current third quarter of the year.</p><p>Wall Street had been looking for positive earnings of 31 cents per share on sales of $14.35 billion from the company.</p><p>The deteriorating financial situation continues to be blamed on Intel’s multibillion-dollar transition to become a foundry that produces microchips and processors for competing third-party companies.</p><h2 id=\"id_3102300992\">Cost Cuts and Dividend Suspension</h2><p>As bad as Intel’s earnings and guidance were, the company also dealt a blow to current shareholders with the announcement that it is suspending its quarterly dividend payment in this year’s fourth quarter.</p><p>The company had been paying shareholders a dividend of 12 cents per share each quarter, giving the stock a yield of 1.72%. However, Intel had previously cut its distribution to shareholders by 65% in February 2023 as the company sought to lower expenses and conserve cash.</p><p>The company did not provide a timeline for when the quarterly dividend might be reinstated. News of the dividend suspension comes along with other cost control measures that were announced alongside the dismal Q2 financial results.</p><p>Management announced that they are eliminating 15% of Intel’s global workforce, equal to about 17,500 positions, as they try and lower costs and improve the company’s finances. Intel’s executive team said they are looking to reduce costs by as much as $10 billion.</p><h2 id=\"id_808884835\">A Costly Pivot</h2><p>Intel is spending tens of billions of dollars to develop microchip manufacturing plants in the U.S. as it pivots from being a designer of chips and processors to a foundry that makes chips for itself and competing companies.</p><p>Intel CEO Pat Gelsinger has said the goal is to eventually compete against <strong>Taiwan Semiconductor Manufacturing Co. </strong>(NYSE:<strong><u>TSM</u></strong>), which currently produces about three-quarters of the world’s chips. So far, the costly pivot isn’t panning out as hoped.</p><p>Last year, Intel was awarded $8.50 billion from the U.S. government through the Chips and Science Act that aims to make America more self-sufficient at making semiconductors.</p><p>Intel said the government funding will support the creation of factories in Arizona, New Mexico, Ohio, and Oregon. The company also received federal loans up to $11 billion and a tax credit benefit on up to 25% of more than $100 billion in qualified investments.</p><p>However, despite support from the federal government, Intel continues to struggle with its ambitions to become a chip foundry.</p><p>Last year, the company halted construction on a $20 billion chip plant its was building in Ohio. At the same time, Intel has struggled to keep up in the race to develop artificial intelligence chips and processors.</p><p>Management said that a decision to rush production of it Core Ultra PC chips that can handle AI workloads hurt Intel’s just released Q2 results.</p><h2 id=\"id_3068515963\">Stay Away From Intel Stock</h2><p>The situation at Intel is growing dire, with Intel struggling under the weight of a costly transition to become a microchip foundry. The pivot is not going well and it is causing Intel’s finances to deteriorate and its market share to erode.</p><p>The suspension of the company’s dividend was the latest slap in the face to shareholders. Sadly, the poor state of affairs at Intel looks likely to get worse before it gets better as the company now turns its focus to finding $10 billion in cost savings.</p><p>Given the litany of problems, investors would be smart to steer clear of this troubled company and its shares. Intel stock is <em>not</em> a buy.</p></body></html>","source":"investorplace_stock_picks","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Intel Stock Alert: Do NOT Buy-the-Dip in INTC</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIntel Stock Alert: Do NOT Buy-the-Dip in INTC\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-07 13:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2024/08/intel-stock-alert-do-not-buy-the-dip-in-intc/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Intel (INTC) just delivered a shockingly bad quarterly print. The company’s stock is trading at its lowest level since 2013.The situation at Intel looks likely to get worse before it gets better. ...</p>\n\n<a href=\"https://investorplace.com/2024/08/intel-stock-alert-do-not-buy-the-dip-in-intc/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IE00BN29S564.USD":"JANUS HENDERSON BALANCED \"A3\" (USD) INC","BK4591":"室温超导概念","LU0541502299.USD":"ALLSPRING  EMERGING MARKETS EQUITY \"I\" (USD) ACC","IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC","LU1868838027.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES \"8\" (USD) ACC","BK4592":"伊斯兰概念","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4534":"瑞士信贷持仓","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","BK4533":"AQR资本管理(全球第二大对冲基金)","LU1868837565.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES \"1\" (USD) ACC","LU2125154935.USD":"ALLSPRING (LUX) WF GLOBAL EQUITY ENHANCED INCOME \"I\" (USD) INC","IE00BKPKM429.USD":"NEUBERGER BERMAN GLOBAL SUSTAINABLE EQUITY \"A\" (USD) ACC","IE00B5949003.HKD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A\" (HKD) ACC","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","LU0057025933.USD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (USD) ACC","BK4535":"淡马锡持仓","BK4581":"高盛持仓","LU1282649067.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AMG\" (USD) INC A","LU0878005551.USD":"UBS (LUX) KEY SELEC ASIA ALLOCATION OPPORTUNITY (USD) \"P\" (USD) ACC","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","BK4527":"明星科技股","INTC":"英特尔","BK4543":"AI","BK4526":"热门中概股","LU0321505439.SGD":"Schroder ISF Global Dividend Maximiser A Acc SGD","LU1989764748.USD":"东方汇理环球颠覆性机遇A2 Acc","LU1868837722.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES \"2\" (USD) ACC","LU0061474960.USD":"天利环球焦点基金AU Acc","LU1989764664.SGD":"CPR Invest - Global Disruptive Opportunities A2 Acc SGD-H","LU1211504680.USD":"ALLIANZ HIGH DIVIDEND ASIA PACIFIC EQUITY \"AM\" (USD) INC","LU1623119135.USD":"Natixis Mirova Global Sustainable Equity R-NPF/A USD","LU0069063385.USD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (USD) ACC","LU0079474960.USD":"联博美国增长基金A","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","BK4549":"软银资本持仓","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","BK4579":"人工智能","IE00B5TLWC47.USD":"BNY MELLON LONG-TERM GLOBAL EQUITY \"B\" (USD) ACC","BK4548":"巴美列捷福持仓"},"source_url":"https://investorplace.com/2024/08/intel-stock-alert-do-not-buy-the-dip-in-intc/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2457901989","content_text":"Intel (INTC) just delivered a shockingly bad quarterly print. The company’s stock is trading at its lowest level since 2013.The situation at Intel looks likely to get worse before it gets better. Source: Sundry Photography / Shutterstock.comMicrochip giant Intel (NASDAQ:INTC) just delivered one of the worst quarterly financial results ever, sending Intel stock plummeting. The company’s share price plunged 26% in one day and registered its worst performance in 50 years. Intel stock is now trading at its lowest level since 2013.The earnings report was so bad that Intel dragged the entire chip sector down with it. Mighty Nvidia (NASDAQ:NVDA) fell 2% on the day.With INTC stock now changing hands at $21 a share, some investors might be tempted to buy-the-dip in this beaten down company. But that would be a mistake as the situation with Intel stock is likely to get worse before it gets better.A Truly Awful PrintTo say that Intel missed the targets Wall Street had set for its second quarter is an understatement. The maker of microchips and processors reported earnings per share of 2 cents, which was well below the 10 cents expected among analysts.Revenue amounted to $12.83 billion compared to $12.94 billion that was the consensus forecast across Wall Street. Sales were down 1% from a year earlier.The guidance provided by Intel’s management team was also not encouraging. Executives said they expect a net loss of 3 cents a share on $12.5 billion to $13.5 billion in revenue in the current third quarter of the year.Wall Street had been looking for positive earnings of 31 cents per share on sales of $14.35 billion from the company.The deteriorating financial situation continues to be blamed on Intel’s multibillion-dollar transition to become a foundry that produces microchips and processors for competing third-party companies.Cost Cuts and Dividend SuspensionAs bad as Intel’s earnings and guidance were, the company also dealt a blow to current shareholders with the announcement that it is suspending its quarterly dividend payment in this year’s fourth quarter.The company had been paying shareholders a dividend of 12 cents per share each quarter, giving the stock a yield of 1.72%. However, Intel had previously cut its distribution to shareholders by 65% in February 2023 as the company sought to lower expenses and conserve cash.The company did not provide a timeline for when the quarterly dividend might be reinstated. News of the dividend suspension comes along with other cost control measures that were announced alongside the dismal Q2 financial results.Management announced that they are eliminating 15% of Intel’s global workforce, equal to about 17,500 positions, as they try and lower costs and improve the company’s finances. Intel’s executive team said they are looking to reduce costs by as much as $10 billion.A Costly PivotIntel is spending tens of billions of dollars to develop microchip manufacturing plants in the U.S. as it pivots from being a designer of chips and processors to a foundry that makes chips for itself and competing companies.Intel CEO Pat Gelsinger has said the goal is to eventually compete against Taiwan Semiconductor Manufacturing Co. (NYSE:TSM), which currently produces about three-quarters of the world’s chips. So far, the costly pivot isn’t panning out as hoped.Last year, Intel was awarded $8.50 billion from the U.S. government through the Chips and Science Act that aims to make America more self-sufficient at making semiconductors.Intel said the government funding will support the creation of factories in Arizona, New Mexico, Ohio, and Oregon. The company also received federal loans up to $11 billion and a tax credit benefit on up to 25% of more than $100 billion in qualified investments.However, despite support from the federal government, Intel continues to struggle with its ambitions to become a chip foundry.Last year, the company halted construction on a $20 billion chip plant its was building in Ohio. At the same time, Intel has struggled to keep up in the race to develop artificial intelligence chips and processors.Management said that a decision to rush production of it Core Ultra PC chips that can handle AI workloads hurt Intel’s just released Q2 results.Stay Away From Intel StockThe situation at Intel is growing dire, with Intel struggling under the weight of a costly transition to become a microchip foundry. The pivot is not going well and it is causing Intel’s finances to deteriorate and its market share to erode.The suspension of the company’s dividend was the latest slap in the face to shareholders. Sadly, the poor state of affairs at Intel looks likely to get worse before it gets better as the company now turns its focus to finding $10 billion in cost savings.Given the litany of problems, investors would be smart to steer clear of this troubled company and its shares. Intel stock is not a buy.","news_type":1},"isVote":1,"tweetType":1,"viewCount":88,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":["OCG"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":55,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}