Intel Just Announced Q2 Guidance Below Estimates: Why The Stock Is Tumbling
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Intel Corporation's shares fell 6.29% to $20.14 after the company announced Q2 guidance that missed analysts' estimates. Intel expects a loss of 32 cents per share, compared to the expected loss of 16 cents, and projected sales between $11.20 billion and $12.40 billion, below the $12.84 billion estimate. CFO David Zinsner cited macroeconomic uncertainty as a factor in the lower outlook. Analyst Kevin Cassidy maintained a Sell rating and reduced the price target from $18 to $14.
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