Intel, a major player in the chipmaking industry, has reported earnings for the first quarter that surpassed Wall Street’s expectations. However, the company gave guidance below estimates for the current quarter, leading to a drop in after-hours trading of its stock. Intel’s sales of $12.72 billion and earnings of 18 cents per share exceeded analyst forecasts of 14 cents per share on sales of $12.8 billion by a margin.
Similarly, other semiconductor companies also announced their first-quarter results. STMicroelectronics missed analyst predictions and provided low guidance for the upcoming quarter due to declining demand in automotive and industrial chip markets. Meanwhile, Mobileye Global delivered mixed Q1 results with guidance aligned with full-year revenue estimates.
Despite this news, Intel remains one of the top performers among semiconductor manufacturing companies, ranking 16th out of 33 with a Composite Rating of 38 out of 99. For more updates on consumer technology, software, and semiconductor stocks, follow Patrick Seitz on Twitter at @IBD_PSeitz. Additionally, investors can access MarketSurge for research, charts, data, and coaching all in one place or view stocks on the list of leaders near a buy point.
