Intel Reports Q2 Earnings Today
What will happen?
Intel, the US IT company, will present its earnings report for the second quarter on July 22 after the stock market closes (23:00 GMT+3). The release will be followed by an investor conference call at 00:00 MT, July 23.
What to expect?
During last year Intel did not bring any profit to the investors, in fact, stocks fell more than 9%. The reasons are manufacturing problems and ongoing restructuring. This negative trend was confirmed during the 1st quarter earnings statement, as the company reported a drop in data center revenue and a steep decline in gross profit margins. Experts predict sales to decline about 10% from the same period one year ago.
After the 1st quarter report was published on April 22 the price rose by 2% on post-market, as the revenue was better than experts predicted. Investors expect Intel to report $17.8 billion revenue to be reported on Thursday. If the result overcomes expectations, the price might gain 2-3% on the post-market trading session.
Technical analyses
Daily chart
Since April 25 the price is squeezed between $53.5 and $58. At the moment the price is trying to break the 50-day moving average. If Intel reports higher revenue than expected, the price will break this resistance and move up to $58. Otherwise, it has the potential to fall and test $53.5 support level.
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