In the chipmaking industry, Intel has surpassed Wall Street’s expectations in the first quarter, with adjusted earnings of 18 cents per share on sales of $12.72 billion. This exceeded analyst estimates of 14 cents per share on sales of $12.8 billion and was an improvement from the same period last year when Intel reported a loss of 4 cents per share on sales of $11.72 billion. Despite this, Intel stock fell by 7% in after-hours trading to 32.65, following the earnings report. However, during regular trading session on Thursday, the stock rose by 1.8%, closing at 35.11.
STMicroelectronics and Mobileye Global also reported their first-quarter results in the semiconductor industry. STMicroelectronics missed analyst estimates and provided a lower guidance for the current quarter, citing weak performance in the automotive and industrial chip markets. On the other hand, Mobileye Global delivered mixed Q1 results and issued in-line sales guidance for the upcoming year. Mobileye specializes in producing chips and hardware for advanced driver assistance systems and autonomous vehicles.
In terms of stock performance, Intel ranks at No. 16 out of 33 stocks in IBD’s semiconductor manufacturing industry group with a poor IBD Composite Rating of 38 out of 99. Other companies like Impinj, Lam Research, and Texas Instruments have also reported positive results in the chipmaking industry, highlighting the various opportunities and challenges in the market. Investors can find research, charts, data and coaching services all in one place for efficient navigation through MarketSurge’s platform for semiconductor industry enthusiasts looking to make strategic investment decisions.
Overall, while some companies have reported strong first-quarter results like Intel , others like STMicroelectronics have missed expectations or provided lower guidance for future quarters causing their stocks to decline . It is important for investors to keep track of these developments as they navigate through this dynamic market landscape.