- Tools for Investors
- Stock News
- Investing Ideas
- Econ & Policy
- Personal Finance
After hitting a year to date high of $29.18 a share in May, Intel (NASDAQ:INTC) is down on news of weaker than expected revenue. The company released a statement adjusting its projected revenue to $13.2 billion. Intel had originally projected revenues from $13.8 to $14.8 billion but “weaker than expected demand in a challenging macroeconomic environment” has led to weak enterprise PC sales and slowing demand in emerging markets.
Don’t Miss: Is the New Kindle Fire HD Wow-Worthy Enough?
While Intel remains dominant in the data center and server market, the trend toward tablet, mobile, and cloud computing means that Intel will have to change its game if it wants to see growth. Piper Jaffray analyst Auguste Gus Richard said, “We believe popular holiday gifts this year will include the Nexus 7, Kindle Fire, Microsoft Surface, and iPad Mini,” adding, “This does not does not bode well for the semiconductor industry or Intel as PCs are roughly one-third of overall chip demand.”
Don’t Miss: AT&T Has This Big Present for Apple.
Looking for all the important signs about the future for stocks? Get our newest Wall St. Cheat Sheet Newsletter now >>
Don't miss one of the biggest bull markets in history! Covers Gold, Silver, Gold & Silver stocks, and miners.
There's always a bull market in some sector! Find the best opportunities in commodities.