Shares in Intel (INTC.O) were down 1.4% on Thursday ahead of the company's second-quarter report, due after market close, with investors anxious to see if the company's progress in AI and its turnaround efforts will justify its blistering share-price rally year to date.
Wall Street analysts see the chipmaker reporting adjusted EPS of $0.21 versus $0.10 a year ago on revenue of $14.42 billion versus $12.86 billion a year ago, which at 12% would be its fastest growth rate in six years, according to LSEG data.
In the last eight quarters, INTC's EPS and revenue beat seven times, with both missing in Q2 2024.
Behind estimates are expectations for a demand rebound for Intel's central processors that are increasingly used to help power AI agents. Investors will also be focused on potential new customers for the company's contract manufacturing business.
INTC shares last traded at $101.13 versus a median price target of $100, up from $90 a month ago, as per LSEG, which shows 48 analyst ratings: 3 "strong buy," 10 "buy," 32 "hold," and 3 "sell."
Year to date, the stock is up about 174% versus a roughly 15% gain for the S&P 500 technology index (.SPLRCT) and a roughly 74% advance for the Philadelphia semiconductor index (.SOX).
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