Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.
Intel earnings are upbeat, what’s next for stock traders?
If you watched the “Three best stocks to trade right now” webinar this week, you probably know that we noted the Intel stock as one of the dark horses of this earnings season. The chip producing company had a quite mixed 2019. However, the Q4 earnings report released yesterday shrugged off the previous negativity surrounding the Intel stock.
On Thursday, Intel reported the revenue of $20.21 billion and EPS of $1.52, beating analysts’ expectations of $19.23 billion and $1.25 respectively. In addition, the company set high forecasts for the next quarter with a revenue of $19 billion and an EPS of $1.3. These expectations came out above the consensus estimates of $17.25 billion and $1.04. The largest part of this positive result belongs to Intel’s Data Center Group, which produces server CPUs.
Of course, the news has had a positive impact on the stock of a company, pushing it to the fresh high above the $63 level.
What does it mean?
After the Intel stock hit bottom in May 2019, testing the levels below $43 due to engineering and manufacturing mistakes, the new CEO Bob Swan started to find a way to support the company. And it seems like his attempts have been finally rewarded. Some factors worked in his favor, too. As many companies started to switch from Microsoft 7 to new operating systems, the number of PC sales increased significantly. Also, the company has finally proven its status of good cheap for serves producer. The number of sales advanced by 19%.
Take advantage of other stocks next week
Next week we expect to see even more volatility, as such big names as Apple, Facebook and Microsoft are going to report their financial data. Below, we listed the dates and the exact* timing of the earnings releases.
*Note that the date of the release may change without a prior announcement. Thus, we recommend checking the investment section in the official site of each company.
Learn how to trade stocks with FBS
If you are a newbie in stock trading, go to the “Tips” section and read the article on trading stocks there.
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