Intel, a major chipmaking company based in California, outperformed Wall Street’s expectations in the first quarter with adjusted earnings of 18 cents per share on sales of $12.72 billion. However, the company provided lower guidance for the current quarter, causing its stock to decline in after-hours trading. Despite this, the stock rose by 1.8% during regular trading hours on Thursday and closed at 35.11.
Other companies in the semiconductor industry also reported their first-quarter results. STMicroelectronics missed analyst estimates and provided a lower guidance for the current quarter due to weak performance in the automotive and industrial chip markets. In contrast, Mobileye Global delivered mixed Q1 results and issued in-line sales guidance for the upcoming year, specializing in producing chips and hardware for advanced driver assistance systems and autonomous vehicles.
In terms of stock performance, Intel ranks at No. 16 out of 33 stocks in IBD’s semiconductor manufacturing industry group with a poor IBD Composite Rating of 38 out of 99. Investors can follow Patrick Seitz on X for more stories on consumer technology, software, and semiconductor stocks.
Impinj, Lam Research, and Texas Instruments have also reported positive results in the chipmaking industry, highlighting various opportunities and challenges in the market. MarketSurge offers research, charts, data, and coaching services all in one place for investors looking to navigate the semiconductor industry efficiently. Stock market enthusiasts can also find a list of leaders near a buy point, offering valuable insights for strategic investment decisions.
Overall, while Intel has outperformed expectations so far this year due to strong sales figures from its core data center business segment