Intel Q3 Earnings Preview: Expect Decline in Net Sales and Revenue

The Wallstreetbets stocks mostly higher pre-bell on Friday, with Alphabet expected to advance and Intel to decline. Intel is the world's leading semiconductor manufacturer, with a breakdown of net sales by family of products and services including computing architectures products, wafer manufacturing services, and other. Net sales are distributed geographically across the US, China, Singapore, Taiwan, and others.

Alphabet Inc. (GOOGL) is expected to release its first-quarter earnings results after the market close on Thursday, April 24. Analysts anticipate the Mountain View, California-based company to report earnings at $2.01 per share, up from $1.89 a year ago. Quarterly revenue is projected to reach $89.15 billion, compared to $80.54 billion in the same period last year [1].

Alphabet has been implementing a cost-cutting effort, reportedly requiring some remote employees to adopt a hybrid schedule or accept a voluntary exit package. Despite this, the company's shares rose 2.6% to close at $155.35 on Wednesday [1].

Analysts have provided varying ratings and price targets for Alphabet. Mark Kelley of Stifel maintained a Buy rating and lowered the price target from $225 to $192 [1]. Brad Erickson of RBC Capital reiterated an Outperform rating with a price target of $200 [1]. Brian Nowak of Morgan Stanley maintained an Overweight rating but cut the price target from $210 to $185 [1]. Brian Pitz of BMO Capital reiterated an Outperform rating with a lowered price target from $230 to $200 [1]. Youssef Squali of Truist Securities maintained a Buy rating and decreased the price target from $220 to $200 [1].

In contrast, Intel Corporation (INTC), the world's leading semiconductor manufacturer, is expected to decline. Intel's net sales are distributed across various product families and geographic regions, including computing architectures products, wafer manufacturing services, and others. Net sales are distributed geographically across the US, China, Singapore, Taiwan, and others [1].

References:
[1] https://www.benzinga.com/analyst-ratings/price-target/25/04/44977039/top-wall-street-forecasters-revamp-alphabet-expectations-ahead-of-q1-earnings

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