5 Most Anticipated Tech Earnings to Watch

2. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 65

Intel Corporation (NASDAQ:INTC) is scheduled to release its financial results for the third quarter after the closing bell on October 27, 2022. Analysts expect Intel to take a hit from a slowdown in the global demand for PCs.

Earlier this week, Needham analyst Quinn Bolton trimmed his price target for Intel Corporation (NASDAQ:INTC) from $40 per share to $32 per share, citing fading demand across most end markets.

Separately, BofA analyst Vivek Arya recently reaffirmed an “Underperform” rating for Intel Corporation (NASDAQ:INTC). The analyst believes the company will keep losing market share to AMD and Taiwan Semiconductor.

Meanwhile, asset management firm Baron Funds also shared its view about Intel Corporation (NASDAQ:INTC) in its second-quarter 2022 investor letter, stating:

“Then, there is the case of Intel Corporation (NASDAQ:INTC). A blue-chip tech champion with a market capitalization of over $500 billion in early 2000, the stock was trading at a P/E multiple of 42. It was a fast-growing company whose stock price and multiple declined more or less in line with its peers. However, unlike Google, Intel’s net income has grown from $7.3 billion in 1999 to $19.9 billion in 2021, a compounded annual growth rate of just 4.7%. Its growth from the dot com era has not proven to be durable, and Intel has yet to trade at the price it attained in 1999.”