Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, July 26, 2019

Article Excerpt

INTEL CORP., $51.59, Nasdaq symbol INTC, is the world’s leading maker of computer chips: its products power 90% of all personal computers. The company is selling most of its smartphone modem business to APPLE INC., $207.74, Nasdaq symbol AAPL, for $1 billion. It expects to complete the sale by the end of 2019. The transaction will let Intel focus on those aspects of wireless technology where it has a greater presence. The deal with Apple also lets it keep developing new modems for non-smartphone products, including PCs and self-driving cars. Meantime, overall revenue in the quarter ended June 29, 2019, fell 2.7%, to $16.51 billion from $16.96 billion a year earlier. That’s due to weaker sales of datacentre chips to corporate customers and governments. Even so, the latest revenue figure still beat the consensus forecast of $15.7 billion. Intel’s earnings fell 3.1%, to $4.79 billion from $4.94 billion. It spent $3.0 billion on share buybacks in the quarter, so per-share earnings gained 1.9%, to…