Amid what has been a tough three years for Intel (INTC), the technology development and manufacturing firm, could be set to continue falling over the next 12 months. Indeed, 30 analysts have collectively published their ratings for the company. Altogether, it is predicting a slide even further for the companyâs stock.
The Q2 earnings report, arriving below expectations, did the company no favors. It enforced a continued drop in stock price as Intel hopes to continue competing with AI chipmaker and tech stock darling Nvidia. With a new financial report due October 31st, there is some hope that INTC could have a notable turnaround in store.
Source: CNN
Also Read: Intel: INTC Eyes Halloween Turnaround as Key Report Looms
Intel Stock Gets Bearish Ratings as Experts Project Continued Fall
Over the past three years, Intel stock has fallen 57% in a monumental drop. Although it has increased as much as 20% over the last month, there is little hope among investors. That is especially true as other tech stocks have emerged as promising options to compete in an increasingly crowded industry.
That may not fair too well for Intel (INTC), who has seen more than 30 analysts share ratings that project 12 more months of price falls for the stock. Specifically, a MarketBeat report notes a consensus from the various firms that gave the stock a âreduceâ recommendation. This bearish rating is given for stocks that project a total return to be negative throughout the next year.
Credit: Intel Corporation
Also Read: Goldman Sachs Sets New Price Target For Nvidia Stock
Among them, five research analysts have given INTC a sell rating. The projections align with an overall bearish outlook for the stock, which has been struggling mightily since 2021. The companyâs revenue has fallen 16% per year in 2024. Moreover, the declining performance has been connected to an overall lessening demand for core PC products from the company.
October should provide some important information for the stock amid the negative outlook. The firmâs Q3 earnings is set to be released on Halloween. Additionally, CEO Pat Geisinger has noted his optimism. He recently expressed his confidence by purchasing 12,500 INTC shares in August of this year.
