Intel Shares Hit New Low (INTC)
Yet another dismal day for stocks as Intel Corp. (NASDAQ:INTC) hit $17.60 a share, a new 52-week low for the company. Intel shares have fallen 25% since April and its hard to believe its now trading dirt cheap with a P/E Ratio of 10.8 and EPS of 1.67.
But where are the buyers, has Wall Street lost faith in the chip giant despite it reporting its best quarter ever with $2.9 billion in profit?
This month Intel Corp. (NASDAQ:INTC) just got even bigger, they will soon own McAfee, Inc. (NYSE:MFE). McAfee has some 6,100 employees, and saw $2 billion in 2009 revenue, making it the world’s largest security company. Intel is all about diversification these days, picking up McAfee for $7.68 billion is a genius move.
Mastery Sponsors - Become one Today
Intel Corp (NASDAQ:INTC) blew away analyst estimates last month when the chip giant reported EPS of 51 cents on sales of $10.8 billion, beating the Street by 9 cents. The guidance was even better, a Q3 forecast of $11.6 billion when the Street was expecting $10.92 billion.
But Wall Street doesn't believe the chip sales will keep coming, everyone is concerned with the global slowdown, and Intel Corp. can't do anything to change investor sentiment. Intel shares closed the day at $17.67, down -1.64% or 30 cents, but just how low can INTC go?
At some point value investors will step in and start buying or we'll continue to hit new 52-week lows on a daily basis, time will tell.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- China, Europe & Earnings at Home | Financial Sense
- Russell Napier Asks: "What Evidence Is There That QE Works?" | ZeroHedge
- Top Ebola Scientists: Ebola More Likely to be Spread by Aerosol In Cold, Dry Conditions than In Hot, Humid Africa | ZeroHedge
- Banker Suicides Return: DSK's Hedge Fund Partner Jumps From 23rd Floor Apartment | ZeroHedge
- The World Series Of Real Estate | ZeroHedge
- Consensus Expects Year-End Rally Post 10% Market Correction | Financial Sense
- French Unemployed Hits Record High, Hollande Demands EU Budget "Must Be Adapted" | ZeroHedge
The most relevant financial news and articles from the Internets
- Scientists Who Discovered Ebola Almost Caused A Disaster: 'It Makes Me... | Business Insider
- 13 Apps For Getting What You Need, Fast | Business Insider
- Here's A Chart Of The Biggest Winners And Losers In Europe's... | Business Insider
- Pellegrini defiant despite Hammer blow | Business Insider
- Several Reported Injured After A Shooting At A High School In... | Business Insider
- ... | StreetInsider.com
- This Incredible Star-Shaped Superyacht Will Cost Half A Billion Dollars | Business Insider