Intel Reports Q2 Earnings Today

Intel Reports Q2 Earnings Today

2021-07-23 • Updated

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

INTELDaily.png

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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