How did INTC's Q4 earnings surprise impact investor sentiment?

Intel's Q4 earnings surprise had a positive impact on investor sentiment, as evidenced by the following:

1. **Stock Price Reaction**: Despite missing earnings expectations in Q3, Intel's stock price jumped more than 6% after the company provided a strong Q4 outlook. This indicates that investors may have been more influenced by the positive projections for the future than the negative results from Q3.
2. **Revenue Outperformance**: Intel's revenue for Q4 exceeded Wall Street's $13 billion projection, suggesting that the company's performance in the upcoming quarter was better than expected. This can boost investor confidence as it indicates a potential turnaround or stabilization in the company's financial performance.
3. **Market Confidence**: The fact that Intel's shares rose despite a loss per share of $0.46 for Q3 suggests that the market may be more focused on the company's future prospects rather than the immediate quarterly results. This could be due to confidence in Intel's strategic direction, particularly in areas like AI and data center products.
4. **Analyst Optimism**: The absence of a significant drop in analyst optimism despite the Q3 miss indicates that many analysts may have already factored in the Q3 results and are more focused on the potential growth in the coming quarters. This can be a positive signal to investors, as it suggests that the company's long-term outlook remains strong.

Overall, while Intel's Q3 performance was lackluster, the positive Q4 outlook and the potential for growth in key segments of the business likely outweighed the negative sentiment from Q3, leading to an overall positive impact on investor sentiment.