Intel Corp (NASDAQ:INTC) stock is trending higher on Friday, rebounding after a sharp sector-wide sell-off the previous day. Investors are stepping back in ahead of the company’s upcoming earnings report, recovering from heavy losses suffered earlier in the week due to broader artificial intelligence spending anxieties and macroeconomic pressures.
20%. 82% gain, even as most sectors trade in the red.
• Intel stock is moving in positive territory. Why are INTC shares climbing?
Pre-Earnings Optimism Builds Optimism is building ahead of Intel’s third-quarter earnings release on Oct. 29.
Consensus estimates project earnings per share of 39 cents, up from 23 cents in the year-ago period. 65 billion year-over-year.
Read Also: Stock Market Today: S&P 500, Nasdaq 100, Dow Jones Futures Fall Ahead of Global PMI Data—Western Digital, Newmont, Crown Castle in Focus FCC Grants Regulatory Waiver On Thursday, the Federal Communications Commission granted a waiver to Intel from its ban on some foreign-made advanced robotics. ” Wall Street Analyst Views The Benzinga Analyst Consensus tracks 32 analysts, reflecting a Neutral rating with 11 Buys, 20 Holds, and 1 Sell.
6% upside. Among recent actions, Susquehanna maintained a Neutral rating while lowering its forecast to $105 on Wednesday.
TD Cowen maintained a Hold rating and lowered its forecast to $95, while JP Morgan upgraded the stock to Neutral with an $85 forecast on Monday. 1% below its 100-day SMA.
1% above its 200-day SMA, putting the long-term trend line right in play as a "make-or-break" area. The longer-term trend signals are still constructive on paper — 20-day SMA above the 50-day SMA and the 50-day SMA above the 200-day SMA — but price is currently trading well under the faster averages, so bulls need follow-through to prove this is more than a dead-cat bounce.
16 at the time of publication on Friday, according to Benzinga Pro data.
